CHARLOTTE, N.C., October 21, 2021
TUSK Partners acted as exclusive financial sell-side advisor to Nashville, TN-based Cumberland Pediatric Dentistry and Orthodontics on its sale to Spark Orthodontics, a portfolio company of Rock Mountain Capital. Cumberland Pediatric Dentistry and Orthodontics (“CPDO”) is a leading multi-location, multi-specialty group in Tennessee, with 8 clinic locations across the state. The transaction, which closed October 15, 2021, will support continued growth and future acquisitions as the company expands into new markets.
“Our partnership with Spark will allow us to continue to execute on our strategy for growth in the Tennessee markets and beyond. We were attracted to Spark because of their historical success and Jason Hartman’s vision for the future of the business. There was a common culture and drive that we share that made the partnership make sense on so many levels. Our entire team is excited about our future – together.” said Dr. Brent Miller, Partner at Cumberland Pediatric Dentistry and Orthodontics.
Dr. Miller indicated that the company hired TUSK “based on the team’s experience in the dental space, ability to understand and best position clients, and formidable reputation.” He added, “We had some unsolicited offers from groups on the table but knew that we wanted to maximize our value in our sale – you only get one chance to sell your business and we wanted it done right! We interviewed several groups to take us to market but decided to work with TUSK based on their experience and success in the dental market. I could not be happier with the strong valuation and partner that they helped us obtain. The partnership with Spark Orthodontics will enable us to continue to execute on our vision for the business. The team at TUSK was fantastic and delivered an exceptional outcome.”
Kevin Cumbus, Managing Director of Mergers and Acquisitions and President at TUSK Partners added, “We could not be happier with the new partnership between Spark and CPDO. CPDO’s four partners, Drs. Brent Miller, Jennifer House, Peter Wojtkiewicz and Jack Stalker are a Dream Team in the DSO space. Each partner brought a unique Super Power to the business that enabled each of them to focus on their highest and best use of time. Their collective expertise and commitment to their vision, community, patients, team and clinicians drove success throughout the organization.” Kevin continued, “This is the seventh large group that we have represented recently, and we have more on the way. We love to work with multi-specialty groups as the market has really woken up to the value proposition of these businesses. It is always a treat representing individuals and a company you respect and admire. CPDO’s new partnership with Spark Orthodontics will enable the company to move forward in its growth strategy with speed and certainty.”
Jason Hartman, CEO of Spark Orthodontics added, “I love how the leadership of CPDO is focused on the patient, not the payer. We at Spark have long believed that the patient is the lifeblood of our organization and we saw same cultural DNA in Cumberland. Their seamless integration of pediatrics and orthodontics is certainly a recipe for success and something that we will continue to look for in our growing business. I am excited to work with this leadership team to grow our collective business.”
David Scharf, Managing Director of Rock Mountain Capital, the capital partner of Spark Orthodontics, added, “We could not be happier entering Tennessee with our partnership with CPDO. Our strategy for growth is to partner exclusively with the best in class every time. When we surveyed the market, CPDO was best in class across all fronts: historical financial success and a clear growth plan driven by strong leadership, and culture. We are excited to aid Spark and Cumberland in their growth strategy in the months and years to come.”
The transaction was led by Kevin Cumbus, Ryan Mingus, Alex Cherniavsky, and George May at TUSK Partners. Sean Buckley of Dykema LLP served as legal counsel to Cumberland Pediatric Dentistry and Orthodontics. Financial terms of the transaction were not disclosed.
About Cumberland Pediatric Dentistry and Orthodontics
Cumberland was formed in 2012 by four dentists with a desire to make a difference. Their vision was to create a company that positively impacts the lives of children. Today they have grown to eight locations in middle Tennessee, all owned by partnering dentists now employing over 150 team members. Cumberland provides unsurpassed pediatric dental and orthodontic care in a fun, welcoming environment. They aim to create a foundation of optimal oral health for every child and a supportive, inspiring atmosphere for every team member. For more information, visit https://cumberlandpediatricdentistry.com
About Spark Orthodontics
Spark Orthodontics was founded in 2010 by Dr. Jason M. Hartman, D.M.D., M.S. The practice is known for its innovative office designs and is widely recognized as a leader in orthodontics. Dr. Hartman received a Bachelor’s degree from Muhlenberg College,
Magna Cum Laude; a D.M.D. from the University of Pennsylvania School of Dental Medicine; and an M.S. from the Columbia University College of Dental Medicine. He is a Certified Diplomate of the American Board of Orthodontics, a degree of recognized excellence. In 2012 Dr. Hartman was named One of America’s “Top 40 Dentists Under Age 40″ by Incisal Edge Magazine and has led Spark to the Inc 5000 list multiple times. For more information, visit https://sparkorthodontics.com.
About Rock Mountain Capital
Rock Mountain Capital is a private equity firm founded by industry veteran David
Stonehill, who brings over 25 years of experience investing in and growing middle market companies. Rock Mountain focuses on working with entrepreneurs and management teams in the consumer goods & services, technology, media & telecom (TMT), and consumer-facing healthcare services sectors to accelerate organizational development, execute on organic growth opportunities and pursue strategic M&A and roll-up/consolidation strategies. For more information, visit