NEW YORK, NY and WAKEFIELD, MA, Feb. 9, 2012 (GLOBE NEWSWIRE)
-- JLL Partners, Inc. ("JLL") and American Dental
Partners, Inc. ("ADPI" or the "Company")
(Nasdaq:ADPI) announced today that JLL, through its
affiliated entities, completed its acquisition of the
Company.
"I am very pleased to have a partner in JLL that is
committed to our core values, strategic goals and objectives,
dedication to quality care and long-term outlook," said
Gregory A. Serrao, President and Chief Executive Officer of
the Company.
"American Dental Partners is well-positioned as a
leading provider of dental practice management services with
a national infrastructure and an excellent reputation for
providing services to its affiliated practices," said
Michel Lagarde, Managing Director of JLL. "We look
forward to working with ADPI's management team to pursue
our shared vision and enhance the Company's
growth."
The Company is now privately held and will no longer be
listed on NASDAQ after the closing of the market on February
9,
2012. As a result of the acquisition, the holders of
ADPI's outstanding common shares will receive $19.00 per
share in
cash. The total enterprise value for the Company, including
outstanding indebtedness, as of the closing date is $392
million. About American Dental Partners
American Dental Partners is headquartered in Wakefield,
Massachusetts and is one of the nation's leading
business partners to dental group practices. The Company is
affiliated with 27 dental group practices, which have 282
dental facilities with approximately 2,404 operatories
located in 21 states. More information on American Dental
Partners can be found on the website www.amdpi.com.
About JLL Partners
JLL Partners is a New York-based leading private equity
investment firm with approximately $4 billion of capital
under management. JLL's investment philosophy is to
partner with outstanding management teams and invest with
them in companie that they can continue to grow into market
leaders. JLL has invested in a variety of industries, with
special focus on healthcare services, financial services and
business services. More information on JLL can be found on
the websitewww.jllpartners.com.
Forward-Looking Statements. This press release contains forward-looking statements. Such forwar-dlooking statements reflect the Company's current expectations or beliefs concerning future events and actual results may differ materially from current expectations. Any such forward-looking statements are subject to various risks and uncertainties. Investors should not place undue reliance on forward-looking statements as predictions of future results. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: American Dental Partners, Inc.
401 Edgewater Place, Suite 430
Wakefield, MA 01880
Phone: 781-224-0880
Fax: 781-224-4216
Gregory A. Serrao Chairman, President and Chief Executive Officer
781-224-0880
Breht T. Feigh
Executive Vice President, Chief
Financial Officer and Treasurer
781-224-0880
JLL Partners, Inc.
450 Lexington Avenue, 31st Floor
New York, NY 10017
Phone: 212-210-9334
Fax: 212-286-8626
Dalia Cohen Investor Relations JLL Partners
212-210-9334
distribué par | Ce noodl a été diffusé par American Dental Partners Inc. et initialement mise en ligne sur le site http://www.amdpi.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-02-09 19:13:40 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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