Linden Completes Investment in Spear Education, LLC
Chicago, IL (August 19, 2014) – Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, today announced that it has completed an investment in Spear Education, LLC (“Spear” or the “Company”), which provides premium post-graduate dental continuing education content to dentists and specialists around the country.
Based in Scottsdale, Arizona, Spear is dentistry’s premier source for continuing education. The Company provides dentists and specialists of all levels with hands-on courses at its state-of-the-art facility in Scottsdale, interdisciplinary curriculum and peer-to-peer learning through Spear’s study clubs, and premium online educational content via the Company’s digital platform.
“Spear’s commitment to the educational interests of its dentists is tremendous, and the quality of the content across the on-campus courses and subscription-based content is unparalleled,” said Tony Davis, a Managing Partner at Linden. “We are very impressed with the collective vision of Frank Spear, Imtiaz Manji, Kaleim Manji, Rezwan Manji and the rest of the management team, and we are thrilled to partner with this talented group as we work with the existing management team to accelerate the Company’s growth via novel content development and entry into adjacent curriculum and markets.”
“Given Linden’s extensive experience in the oral care sector, they are the ideal partner for our exciting next phase of growth,” said Frank Spear. “Linden shares Spear’s passion for dental education, and the combination of its industry relationships, operating talent, and experience in the dental segment will help us achieve our goals together.” Imtiaz Manji added, “The vision that I have always had is to have the mindshare of the finest clinicians in the country deliver the very best patient care possible, and with our new partners we look forward to introducing this practice to even more dentists.”
The investment in Spear represents the latest platform in the continuation of Linden’s sector-based approach and is its fourth investment in the oral care industry, following Ranir, LLC (“Ranir”), a private label and contract manufacturer of oral care products and Young Innovations, Inc. (“Young”), a developer and manufacturer of dental supplies and equipment, among others.
Linden has named Gerard Moufflet, a Linden Operating Partner, to the company’s Board of Directors. Mr. Moufflet has extensive experience in the oral care sector having previously served as a Director of Ranir, a Director of American Dental Partners, Inc., and as Chairman of the Board of the Harvard Dental School, as well as serving as a current Director of Young.
Brentwood Capital Advisors served as exclusive financial advisor to Spear, and Kirkland & Ellis LLP served as legal counsel to Linden. Debt financing was provided exclusively by Golub Capital.