Thurston Group Exits U.S. Endodontics Partners

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Nov 16, 2021, 09:30 ET

CHICAGO, Nov. 16, 2021 /PRNewswire/ -- Thurston Group ("Thurston"), a private equity firm focused on investments in healthcare services companies, announced the sale of U.S. Endodontics Partners ("U.S. Endo") to Quad-C Management. Established in 2018 through the combination of three leading practices, U.S. Endo has grown rapidly by partnering with top-tier endodontists across the country. Since inception, U.S. Endo has completed over 45 acquisitions and now spans over 80 offices in 28 states. Thurston and its affiliates received over a 4.6x return on invested capital which resulted in an IRR of over 80%.

Patrick J. Haynes, III, Chairman and CEO at Thurston Group, stated, "US Endo, in a short period, has established itself not only as the first endodontic platform in the U.S., but is also considered the premier partner of choice in the market. We have kept true to our thesis at Thurston by partnering, attracting, and retaining the best clinicians by offering an unparalleled opportunity to be a partner while maintaining exceptional clinical care and autonomy."

Dan Davis, Managing Director at Thurston Group further stated, "We are confident that the financial and operational foundation built by Thurston has positioned US Endo for future success."

Dr. Steve Frost, U.S. Endo Chief Clinical Officer said, "The success and unprecedented growth of our company is a direct result of the Thurston Group's pro-active leadership and partner centric approach. US Endo's outstanding endodontist partners need premier support and infrastructure, that Thurston was able to build and scale. With endodontists being specialists, we found excellent value in working with specialists like Thurston Group to build a leading platform. I feel extreme gratitude for the knowledge, experience and financial win the Thurston Group empowered US Endo partners to achieve."

Scotte Hudsmith, U.S. Endo Senior Advisor and Board Member, added, "Thurston Group collaborated with Doctor partners to create US Endo, the first Endodontic Specialty platform. There is no doubt that Thurston's experience in creating other specialty platforms helped make US Endodontic Partners the leader that it is today."

Ernst and Young served as financial advisor and Willkie Farr & Gallagher LLP served as legal advisor to U.S. Endo and Thurston Group on the transaction.

About Thurston Group
Thurston Group is a Chicago-based private equity firm that focuses on building industry-leading companies in the healthcare and related business services sectors. Thurston has an extensive history of partnering with physicians and building fast-growing healthcare businesses, including Smile Doctors, U.S. Endodontics Partners, US Oral Surgery Management, South Georgia Dental Management, U.S. Orthopaedic Partners, Gen4 Dental Partners and ARC Health, among others. Over its thirty-five-year history Thurston Group has returned over $4B of invested capital. For additional information about Thurston Group, please visit Thurston Group's website at www.thurstongroup.com.

CONTACT: Dana Hayes, 312-255-0077 ext 216

SOURCE Thurston Group