Abu Dhabi: Private equity firm Olive Rock Partners has acquired majority stakes in two dental care entities in separate transactions, it was announced on Thursday.
The firm has purchased stakes in The Dental Studio (TDS) in Dubai and Al Bustan Medical Center in Abu Dhabi, in partnership with their respective managing doctors.
TDS, established in 2004, operates five clinics across Dubai.
Al Bustan operates three clinics in the emirate of Abu Dhabi, and was established in 2008.
Muhannad Qubbaj, Founding Partner of Olive Rock, stated: “We have been interested in and mapping the dental sector for a few years, and have been proactively seeking to invest in leading teams managing promising platforms, within regionally fragmented and high growth markets. We are excited to have invested in two platforms that enjoy very sound and experienced leadership as well as strategic prospects.”
“Both platforms are leaders in their respective markets and are uniquely positioned for M&A expansion within complementary catchment areas within the United Arab Emirates,” added Abdullah Shahin, Founding Partner of Olive Rock. “To add support to the growth of the platforms, we have onboarded international expertise to the company boards and operating committees.”
With the two transactions, Olive Rock Partners Fund I will have closed a total of three investments in its first year.