Dallas-based MB2 Dental has closed a $2.344 billion unitranche debt facility with credit vehicles and accounts managed by KKR, which it said acted as lead investor and arranger for the deal.
MB2 Dental, a leading dental partnership organization, said the financing will be used to fund upcoming acquisitions and future growth for the company, following a record year of growth in 2023 with 150 new partnerships.
“MB2 Dental’s access to this new credit facility demonstrates a true endorsement of our strong historical performance and confidence in our growth pipeline,” founder and CEO Dr. Chris Steven Villanueva said in a statement. “We’re seeing unprecedented interest in our partnership model that allows doctors to combine the benefits of joining a larger community with the independence that they love about private practice. The new financing will further accelerate our ability to disrupt the dental profession and continue our nationwide expansion as the fastest-growing dental group in the country.”
Unitranche debt is a type of structured debt that receives funding from multiple participants and has varying term structures.
In May 2023, MB2 Dental announced it raised a record $20 million for its ninth internal investment “sidecar” vehicle, allowing its doctor partners to invest in the company’s growth. MB2 said at that time that it closed an amendment to its existing debt facility, securing a new delayed-draw term loan of $150 million.
MB2 said that it planned to use those funds to expand its network of over 550 practices across 38 states and support upcoming acquisitions.
MB2 Dental, which calls itself a first-of-its-kind dental partnership organization, was founded and led by Villaneuva, a dentist and entrepreneur.
Since its founding in 2007, MB2 Dental has partnered with more than 685 general and specialty dental practices across 39 states.
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From its scrappy beginnings in Texas in 2007, MB2 Dental has grown into a nationwide network of over 550 practices across 38 states. The organization's doctor partners are also shareholders, giving them financial freedom and a say in decision-making for patient care. With a record-breaking $20M fundraising round and a new $150M debt facility, the DPO is poised for more growth.
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