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SIMKO Specialty Dental Has Partnered with Blue Sea Capital to Form Specialty Smile Partners

SIMKO Specialty Dental and its affiliated practices (“SIMKO”), a well-respected and nationally recognized orthodontics and pediatric dentistry group, announced today that they have entered into a strategic partnership with Blue Sea Capital (“Blue Sea”), a leading growth-oriented private equity firm, to form Specialty Smile Partners LLC (“Specialty Smile Partners”). Blue Sea has completed a substantial growth investment in Specialty Smile Partners, a management services organization formed to administratively support SIMKO’s continued growth in its markets and the completion of future affiliations with leading orthodontics and pediatric dentistry providers in existing and new geographies.

“The SIMKO organization is proud to have established a leading orthodontics and pediatric dental practice with a reputation for clinical excellence and technological innovation, and a rich history of supporting its communities. Spanning decades of world-class clinical care and serving a growing base of over 35,000 patient encounters annually, we are thrilled to accelerate the reach of our clinical services into new and existing regions in partnership with Specialty Smile Partners,” said Dr. Steve Kristo, founder of Kristo Orthodontics and co-founder of SIMKO. Commented Dr. Amanda Spitz, founder of Smiles in Motion and co-founder of SIMKO, “This affiliation represents an important milestone in SIMKO’s future growth plan toward the continued delivery of accessible, high-quality specialty care and exceptional patient experiences to our community. Blue Sea brings significant resources, a collaborative approach with management and expertise scaling the business services required by multi-site healthcare providers, that will help Specialty Smile Partners support the rapid expansion of our organization.”

Jason Lockwood, CEO of SIMKO, elaborated: “The Company selected Blue Sea as its preferred growth partner based on the team’s best-in-class track record of supporting similarly growth-oriented healthcare businesses – including in dental specifically – with both organic and acquisition-driven initiatives. We are excited for this next chapter of growth acceleration in partnership with Blue Sea, building upon our historical success and the foundational platform we’ve put in place at SIMKO.”

As part of the transaction, the doctors and management team of SIMKO will maintain their current roles within their respective organizations while also helping to lead the Specialty Smile Partners platform.

SIMKO and its affiliated practices will continue to operate under their respective brands in existing markets.

Scott Ames, Partner at Blue Sea, commented, “After nearly two years diligently landscaping the specialty dental market and developing a strong relationship with the SIMKO team, we are thrilled to have formalized our partnership with SIMKO as the foundational group in Specialty Smile Partners. Our investment solidifies a shared vision with SIMKO’s management and clinical leadership to strategically position Specialty Smile Partners as a leader within the orthodontics and pediatric dentistry specialties. This affiliation will support accelerated growth as we seek to add other like-minded doctors in the fragmented specialty dental sector.”

Added Miller Norman, Vice President at Blue Sea, “We are excited to invest in Specialty Smile Partners, in turn supporting SIMKO and its affiliated practices, a well-regarded orthodontics and pediatric dental group known for its clinical excellence and patient care. We remain committed to supporting existing and future doctors in providing best-in-class orthodontic and pediatric dental services, with administrative and business support from a world-class, doctor-led organization that will help them focus on clinical excellence while recognizing the benefits of scale that come with being a part of one of the largest specialty dental platforms in the U.S.”

The Chicago Corporation acted as financial advisor and Dykema acted as legal counsel to SIMKO. Edgemont Partners acted as financial advisor and McDermott Will & Emery acted as legal counsel to Blue Sea. Financing for the transaction is being provided by Twin Brook Capital Partners.

About Specialty Smile Partners
Specialty Smile Partners is a leading management services organization serving the orthodontics and pediatric dentistry sectors. Specialty Smile Partners provides world-class practice management solutions to a network of nationally renowned orthodontists and pedodontists across the United States, through a comprehensive set of business support functions, including billing and collections, marketing, financial and accounting services, benefits and payroll management, information technology, data analytics, vendor management and legal.

About SIMKO Specialty Dental
Founded in 2017 as a partnership between Kristo Orthodontics and Smiles in Motion, SIMKO Specialty Dental and its affiliated practices (www.simkospecialtydental.com) are together the leading orthodontic and pediatric dentistry practice group in the Midwest, boasting 35 high-quality clinics across Wisconsin, Minnesota and Colorado, with the most advanced technology available to offer patients a full suite of orthodontic and pediatric dental services and treatments.

Blue Sea Capital is a private equity firm based in West Palm Beach, Florida that invests in growth-oriented lower middle market companies valued up to $250 million. The firm has over $750 million in assets under management and invests across three industry verticals: aerospace & defense, healthcare and industrial growth. Blue Sea Capital’s strategy is to partner with talented managers 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. For more information, please visit www.blueseacapital.com.

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