Blue Sea Capital Announces Successful Realization of DECA Dental, Through Strategic Investment by BlackstoneAugust 27, 2021
West Palm Beach, FL, August 26, 2021 – Blue Sea Capital LLC (“Blue Sea Capital”) announced the sale of its interest in DECA Dental Group (“DECA” or the “Company”), facilitated by a strategic investment from Blackstone Tactical Opportunities (“Blackstone”). DECA’s management team, led by Founder and CEO Dr. Sulman Ahmed, remain meaningful owners in DECA alongside Blackstone.
DECA is a leading provider of high quality, affordable dental care to patients, with a network of more than 100 affiliated dental practices across Texas, Florida and Washington. DECA’s culture is founded on a patient-centric model, and the Company is guided by its vision to be the premier provider of dental services under one roof while being the first choice for dentists and staff seeking a partner for growth, innovation and learning.
J.R. Davis, Managing Partner at Blue Sea Capital, commented, “DECA is an excellent example of the Blue Sea Capital growth acceleration playbook in action.” He added, “We were initially attracted to DECA’s special, clinician-led delivery model and strong value proposition across its patient, provider and payor constituents. We are thrilled to have partnered with Dr. Ahmed and the Company’s management team to support DECA’s growth acceleration from approximately 30 locations in Dallas at the time of our investment to more than 100 affiliated dental practices across Texas, Florida and Washington at present.” J.R. concluded, “We have truly enjoyed our partnership with Dr. Ahmed and the entire DECA management team, and we wish them, the Company and Blackstone much continued success.”
Dr. Sulman Ahmed, Founder and CEO of DECA, added: “We are very pleased to have partnered with Blue Sea Capital. Together, we meaningfully expanded our business primarily through organic growth initiatives, as well as select, strategic partnerships with entrepreneurial dentists in new geographies. We founded DECA to transform dentistry, offering clinicians the systems and support they need to focus on what really matters: providing quality patient care. Blue Sea Capital’s support and resources allowed us to accelerate our proven model to become a multi-regional provider of top-quality dental services.”
Scott Ames, Principal at Blue Sea Capital, added, “The sale of our investment in DECA represents the second successful dental investment exit in 2021 for Blue Sea Capital, following our sale of DDS Lab to RoundTable Healthcare Partners earlier this year. Dr. Sulman Ahmed, and DECA’s leadership team have been fantastic partners. We are very pleased with the outcome of our investment in DECA and the value that has been created for DECA’s employees and stakeholders, including Blue Sea Capital’s limited partners. We have deep respect for Blackstone and know they are a great partner to support DECA’s next stage of growth.”
Houlihan Lokey served as exclusive financial advisor to DECA, with McDermott Will & Emery and Locke Lord acting as legal counsel to the Company.
Blue Sea Capital (www.blueseacapital.com) is a private equity firm based in West Palm Beach, Florida, that invests in growth-oriented lower middle market companies with EBITDA of up to $30 million. The firm has $1.4 billion in committed capital and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented leaders and differentiated companies, typically as the first or second institutional investor, and deliver strategic and operational value-add that drives growth acceleration, industry outperformance and business transformation.