Rock Dental Brands secures $90 million in private equity for expansion

Little Rock-based Rock Dental Brands announced Monday (Dec. 2) it has secured $90 million in additional funding from private equity groups TPG Twin Brook Capital Partners and Audax Private Debt.

The company also announced the addition of Spencer Lunghino as its new chief development officer as well as the launch of two new partnerships in Birmingham, Ala.

With 109 dental clinics under its banner, Rock Dental Brands is poised for more growth, it said in a company press release. Rock Dental Brands is a practice management group, started by dentists, that provides support to general and dental specialists affiliates.

TPG Twin Brook Capital Partners has committed $50 million in senior debt financing. Audax Private Debt has committed $40 million in mezzanine financing. Rock Dental Brands said the money will be used to fuel expansions in Alabama, Arkansas, Florida, Missouri and Tennessee.

“We continue to believe in Rock Dental Brands’ growth trajectory and are pleased to further support the Company’s financing needs as it scales its business,” said Faraaz Kamran, senior partner at TPG Twin Brook Capital Partners.

“Our partnership with Rock Dental Brands includes commitments from both our senior debt and mezzanine solutions,” said Ryan Benedict, managing director for Audax Private Debt. “We are excited to support the company’s talented management team in expanding its footprint as they partner with orthodontic and specialty dental practices.”

Rock Dental announced it has added two new clinic partnerships to its network in Birmingham.

“Rock Dental Brands is proud to continue expanding its footprint to bring quality oral health providers and services to more patients and communities,” said Rock Dental’s CEO Kristi Casey. “With the support of TPG Twin Brook Capital Partners and our new partnership with Audax Private Debt, as well as the strategic leadership of our new Chief Development Officer, we’re well-positioned to continue out-pacing our record in industry excellence and business growth, despite the market’s challenging conditions.”

As new chief development officer, Lunghino brings experience from his tenure as vice president of growth for Southern Veterinary Partners in Birmingham. In this new role, Lunghino will spearhead all mergers and acquisitions strategy for Rock Dental Brands.