Miura Partners (Miura) has closed Dent&Co fund at over €200 million, to back Proclinic Group (Proclinic), a European leading dental distribution company, in its next phase of growth.
Dent&Co has commitments from institutional investors, including existing and new LPs who further support the project. The Raneda family, together with Manuel Alfonso – CEO of the group, have reinvested and will continue to lead the project.
Founded in 1983 and headquartered in Zaragoza in Spain, Proclinic is a leading pan-European integrated provider of solutions for the dental sector. The company offers a broad product portfolio of dental consumables and equipment, as well as value-added services including after-sales training and technical support, providing a one-stop solution across the value chain to its clients. The company has a strong omnichannel presence in key European markets, with more than 150,000 SKUs and over 42,000 active customers.
Since Miura’s initial investment in 2021, the company has driven important value-generating initiatives, including C-level management reinforcement; four strategic acquisitions to gain market share in key geographies and new business lines: Exotec Dentaire (France), Meditrans (Poland), Montellano (Portugal) and Secret Aligner (Spain); a clear commitment to digitalization and the reinforcement of online sales; investment in leading logistics platforms in Zaragoza (Spain), Kielce (Poland) and Dijon (France); and the implementation of sustainability initiatives such as the installation of photovoltaic panels, the reduction of plastic in packaging or the introduction of ESG clauses in its contracts with suppliers.
All in all, Proclinic reached €256 million in sales in 2023, with an annual growth of 29% since 2020.
The renewed partnership between Miura and Proclinic will further develop its growth plan based on the reinforcement of the commercial strategy, the expansion of products and services, the integration of the latest acquisitions and explore new M&A opportunities in other European countries such as Italy, Germany, Benelux and the Nordics.
Carlos Julià, Managing Partner at Miura Partners: “We are very excited about strengthening our partnership with Proclinic and backing the Raneda family and the management team in the next phase. The dental sector has solid market fundamentals given the raising patient demands, the ageing of the population and technological improvements. Proclinic is a well-invested and differentiated platform with a proven ability to execute growth and we will continue to consolidate the market through strategic acquisitions. We would also like to thank the trust of our investors who have committed their capital to Dent&Co.”
Manuel Alfonso, CEO at Proclinic Group: “Since 2021 Miura has been a strategic partner and we are very pleased to maintain our partnership to continue growing. It is a true display of long-term commitment to carry out the project we started three years ago. I am grateful of the entire team and the Raneda family for their work and dedication, which has allowed us to achieve our current leading position in dental distribution.”
The transaction was advised by Moelis & Company (exclusive financial advisor), Baker & McKenzie and King & Wood Mallesons (Legal), PwC (Due Diligence) and L.E.K. Consulting (Commercial Advisor).
About Miura Partners
Miura Partners is a purpose-driven Private Equity firm. With offices in Barcelona and Madrid, the firm specializes in 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 70 companies, for a total value in excess of €3.0 billion. Currently, the firm has €1.5 billion assets under management.
About Proclinic Group
Proclinic Group is the leading integrated supplier of solutions for the dental sector in Europe with nearly 150,000 product references and presence in 31 countries. With 40 years of history, the group integrates four business lines across the entire value chain. Distribution (through Proclinic, specialized in dental products and services), production (through Exotec Dentaire, manufacturer of high-quality clinic consumables), training (offered by the DEAC dental academy), and supply and technical assistance (thanks to Fadente).
Proclinic has a state-of-the-art automated logistics center of more than 12,000 square meters in Zaragoza (Spain) and has a strong international presence through strategic acquisitions such as Meditrans (Poland) and Montellano (Portugal), as well as a European e-commerce network in France, Italy, Germany and Poland.
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