Avista Capital Partners Acquires Terrats Medical from Miura Partners

Avista Capital Partners will support Terrats’ international expansion and other growth initiatives

With Miura’s support, Terrats has experienced strong growth in sales, accessed new international markets, and strengthened its omnichannel sales

NEW YORK, Feb. 16, 2024 /PRNewswire/ — Avista Capital Partners (“Avista”) today announced its acquisition of Terrats Medical (“Terrats” or the “Company”), a leading global provider of dental prosthetics, including abutments and implants, from Miura Partners (“Miura”). As part of the transaction, Terrats’ founders have reinvested in the Company and will continue to lead the business. Miura has also re-invested in the Company and will continue to support Terrats in the next phase of its growth.

Founded in 1947 and headquartered in Barcelona, Spain, Terrats manufactures and markets a wide variety of high-quality, high-value dental prosthetics, including abutments, implants, and related products. Terrats’ abutments are compatible with the leading implant systems sold by dental OEMs, allowing dentists and laboratories to leverage the high-quality products across multiple implant platforms. The Company’s customers include dental offices, labs, and distributors, as well as dental implant OEMs, who purchase the Company’s products on a private-label basis. Terrats sells into over 50 countries and exports account for over 95% of revenue.

Since Miura’s investment in 2020, Terrats has implemented various initiatives to fuel growth and improve operations, including the enhancement of direct sales under the DESS® Dental Smart Solutions brand, expansion of the Company’s digitization strategy, the launch of the implantology business, and the acquisitions of distributors Geryon (USA) and Humanus Dental (Sweden). Operationally, the Company has reinforced its management ranks with several senior hires. Due in large part to these initiatives, Terrats has tripled its sales since Miura’s investment in 2020.

Avista, a leading healthcare-focused private equity firm with deep knowledge of the US healthcare market, and specifically the dental market, will support Terrats as it enters a new phase of international growth. The Company’s financial strength and global business positioning will reinforce its market presence in the US, empower the Company to expand in other international markets and capitalize on new opportunities for inorganic growth.

Roger Terrats, CEO of Terrats, emphasized that, “We are thrilled to begin working with Avista Capital Partners, which has a proven track record in the dental sector and the US markets. Their support will help us build upon the growth initiatives launched in 2008 and continued in 2020 with the entry of Miura Partners. Our vision for the next stage will be very consistent and focused on global growth, with a top-notch product suite and strong sales network that will be fortified in the coming years. Additionally, we look forward to continuing to invest in our production and our team.”

Carlos Julià, Managing Partner at Miura, stated, “Terrats is a clear example of positive transformation, executing on organic initiatives, operational reinforcement, and global growth. We are confident that Avista will continue to elevate the Company’s operations and consolidate its international position.”

Sriram Venkataraman, Partner at Avista, said, “Terrats has earned its leading reputation in the marketplace by producing high quality products that are broadly compatible and accessible. The Company is well-positioned to accelerate growth as favorable sector trends continue, particularly growing demand in the dental prosthetics market. We look forward to working with Roger and his team to execute on the numerous growth opportunities ahead.”

Miura was advised by from Moelis & Company (M&A), KPMG (DD) and Clifford Chance (Legal). Avista, was advised by Deloitte (DD), Ropes & Gray (Legal), and Uría Menéndez (Legal).

About Avista Capital Partners

Founded in 2005, Avista Capital is a leading New York-based private equity firm with over $8 billion invested in more than 45 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows and robust growth prospects – targeting product and technology businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, operational oversight and senior counsel, which helps drive growth and performance, while fostering sustainable businesses and creating long-term value for all stakeholders. For more information, visit www.avistacap.com.

About Terrats Medical

Terrats Medical is one of the leading global companies in the design and production of dental attachments and implants in Spain, operating under the DESS® Dental Smart Solutions brand. The Company started its dental project in 2008 but has roots in precision component production since 1947. Terrats Medical has more than 120 employees and subsidiaries in the United States, Sweden, and Germany, as well as a solid network of distributors in more than 40 countries, with particular success in Central and Northern European countries. With its subsidiaries, it has tripled its sales volume in the last three years, with exports accounting for over 95% of its total revenue.

About Miura Partners

Miura Partners is a purpose-driven Private Equity firm. With offices in Barcelona and Madrid, the firm is focused on investing in small and medium-sized family-owned and entrepreneurial companies. Miura provides attractive growth and innovation plans with a clear focus on sustainability, under its three investment strategies: Buy-outs, Impact and Agribusiness.

Since 2008, Miura has invested in more than 60 companies, for a total value in excess of €3.0 billion. Currently, the firm has €1.5 billion assets under management.

For Avista Capital Partners

Kekst CNC

Daniel Yunger / Hallie Wolff

[email protected] / hallie.wolff@kekstcnc.com

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