MB2 Dental

active

Dental — Warburg Pincus (current) / Charlesbank (former)

Deal Terms

Entry Year2024

Entry EV$3.5B

Entry Multiple14x

Leverage5x

Debt Amount$1.75B

Risk Metrics

LTV (est.)50%

Debt / EV0.50x

Notes

Warburg Pincus recapitalized MB2 Dental with $525M growth investment at $3.5B+ EV (Nov 2024). 600+ dental practices. Charlesbank invested 2021 — revenue and EBITDA grew 30%+ per year since. Doctor partner model: dentists retain equity. But $3.5B valuation on a dental rollup demands perpetual acquisitions. If bolt-on pipeline dries up, the music stops.

Sponsor

Warburg Pincus$83B AUM