Private equity company Clairvest Equity Partners acquired 50 percent of Newark, N.J.-based The Childsmiles Group, according to a March 2 news release.
With the funding, Childsmiles will continue to expand its footprint. Founded in 2008, Childsmiles has grown into a group with five practices and 250 employees. The dental group was founded by Michael Skolnick, DDS, and Brooke Skolnick, DDS.
The Clairvest co-investment portfolio is capitalized at $600 million.
"Clairvest has a proven track record of helping build great companies and we are excited to have them join our team," said Dr. Michael Skolnick, who serves as CEO of Childsmiles. "We were looking for a partner-oriented equity investor like Clairvest to support our growth plan. Childsmiles has a unique patient centric culture that will help ensure we can scale effectively while maintaining an exceptional level of service to the families and children we look after."