Avista Healthcare Partners (“Avista”), a leading New York-based private equity firm focused exclusively on healthcare, is pleased to announce the successful completion of the sale of Solmetex (“Solmetex” or the “Company”), a leading provider of dental products, systems, and consumables such as amalgam separation, waterline safety solutions, dental isolation technology, and regenerative biomaterials, to AGIC Capital, a global private equity firm known for creating value for its diverse portfolio companies across Europe, Asia, and the United States. The terms of the transaction were not disclosed.
This transaction marks a new chapter for Solmetex and underscores its commitment to innovation and excellence in the dental industry. As part of the transaction, Avista has retained a minority stake in the company to continue supporting its growth alongside AGIC Capital.
Sriram Venkataraman, partner at Avista, stated, “We have greatly valued our partnership with the Solmetex management team, supporting their significant growth over the past four years. Solmetex’s impressive trajectory has been further bolstered by three strategic acquisitions during our partnership, including Sterisil, Dryshield, and Impladent. These additions have enhanced Solmetex’s product portfolio and positioned the company for continued success in meeting the evolving needs of the dental market.”
Gene Dorff, CEO of Solmetex, said, “I have tremendous gratitude for Avista’s instrumental support in helping Solmetex grow from the largest closed-loop dental amalgam waste compliance service provider in North America to a multi-product and water solutions provider to dentists. Solmetex’s extensive product offerings and dedication to delivering high-quality dental consumables and equipment underscore our strong focus on dental waterline safety management, infection control, and cutting-edge regenerative biomaterials.”
Mr. Dorff continued, “We are excited to embark on the next chapter with AGIC Capital as our partner. Their industry expertise and commitment to growth align seamlessly with our vision for Solmetex. Together, we look forward to driving innovation and delivering superior products and services to our customers as we continue to expand our footprint in the dental industry.”
Robert W. Baird & Co. and Houlihan Lokey served as financial advisors to Solmetex. Willkie Farr & Gallagher LLP served as Avista’s legal advisor, and White & Case served as AGIC’s legal advisor.
About AGIC Capital
AGIC is a growth-oriented private equity firm that invests in thriving middle-market businesses focused on advanced industrial and healthcare technologies in Europe and beyond. AGIC’s differentiated investment strategy combines deep business model expertise and proactive thematic research with a collaborative, management-first approach to value creation. Launched in 2015, AGIC currently has $2.2 billion in assets under management. The firm’s more than 25 professionals are based in Europe and Asia. For more information about AGIC’s investment philosophy, visit www.agic-group.com.
About Avista Healthcare Partners
Founded in 2005, Avista Healthcare Partners is a leading New York-based private equity firm with over $8 billion invested in more than 45 growth-oriented healthcare businesses globally. Avista partners with businesses that feature strong management teams, stable cash flows, and robust growth prospects — targeting healthcare product and technology businesses with clear scale potential across six sub-sectors experiencing strong tailwinds. The team is supported by a group of seasoned Strategic Executives enhancing the entire investment process through strategic insight, long-term value, and sustainable businesses. For more information, visit www.avistahealthcare.com or follow Avista on LinkedIn.
About Solmetex
Solmetex is the largest closed-loop dental amalgam waste compliance service provider in North America and provides a variety of dental consumables and equipment to the dental market with a focus on the dental waterline, infection control, and modern dental isolation technology. The company’s NXT Hg5™ Series of Amalgam Separators and recycling program, which treats dental wastewater, is highly regarded as the best solution for regulatory compliance. Solmetex is widely recognized as the single trusted source for comprehensive environmental solutions for dental waste needs. For further information, visit www.solmetex.com.
