The Smilist Secures $285 Million Debt Facility To Fund Continued Growth

GREAT NECK, N.Y., April 22, 2024 /PRNewswire/ -- Leading Northeast-focused dental support organization ("DSO") The Smilist Management ("The Smilist") has closed a $285 million unitranche debt facility. Fidelity Direct Lending acted as Administrative Agent on the transaction and Manulife Investment Management served as Joint Lead Arranger.

The Smilist, backed by Zenyth Partners, continues to experience impressive growth, completing 30 affiliations in the last two years. The facility includes commitments for almost $100 million of new growth capital, which will be used to fund strategic acquisitions for The Smilist and drive continued business development initiatives.

"We're extremely pleased to have secured this new debt facility. It marks a significant milestone for The Smilist as we embark on the next phase of our growth journey," said Andrew Mintz, Chief Executive Officer of The Smilist. "We're proud of The Smilist's strong performance and our prospects for future growth and innovation."

About The Smilist
The Smilist was founded in 2014 to create a dental organization with a strong consumer brand that offers exceptional patient experiences. Since its founding, The Smilist has rapidly grown to be one of the leading dental support organizations in the New York metro area supporting over 60 locations with over 1,200 employees in New York, New Jersey, Connecticut, Delaware and Pennsylvania.  To learn more, visit www.thesmilist.com.

About Zenyth Partners
Zenyth Partners is an operationally focused investment firm focused exclusively on building leading healthcare companies. Zenyth Partners collaborates with entrepreneurs, clinicians, and operators that share similar values, creating differentiated healthcare organizations that support patients, providers, payors, and the community at large. For more information, please visit www.zenythpartners.com.

CONTACT: Melanie Basile, melanie@thesmilist.com