Mazzone & Associates advised DentalPost, Inc. on its sale to itrac, LLC, a portfolio company of 424 Capital and HealthEdge Investment Partners
Mazzone & Associates (“Mazzone”) is pleased to announce that it acted as exclusive financial advisor to DentalPost Inc. (“DentalPost”) on its sale to itrac, LLC (“itrac”), a portfolio company of 424 Capital and HealthEdge Investment Partners.
DentalPost, headquartered in Atlanta, Georgia, is a technology-powered human resources solution offering recruitment, interview management, and career development resources for dental professionals and practices. DentalPost was founded in 2005 by Tonya Lanthier, a career dental hygienist-turned-entrepreneur that led the company from its inception to its current position as the premier provider of HR technology in the dental industry. Ms. Lanthier will remain with the company post-closing as President of DentalPost.
“At DentalPost, we have long envisioned the future of the ideal dental team being driven by smart, technology-enabled data and team management tools. Being a part of itrac’s first-class marketing technology investment portfolio positions us to further elevate and expand HR and team management solutions to propel the dental industry forward,” said Ms. Lanthier. She continued, “I am grateful to the Mazzone team for orchestrating this process. Going through the sale of a business that you’ve dedicated a meaningful portion of your life to can be an overwhelming experience. The team at Mazzone kept us educated and informed throughout the process, and found us an ideal partner in itrac.”
itrac, a leading provider of marketing technology (“MarTech”) and associated services to dentists across the U.S., has been backed by 424 Capital and HealthEdge Investment Partners since 2018. Following the appointment of Steve Karasick as itrac’s CEO in early 2021, the company has embarked on an aggressive M&A strategy, including the acquisitions of Local Search for Dentists in January 2021, SmartBox in March 2021, and now DentalPost in May 2021. DentalPost’s recruiting platform is a strategic addition to itrac’s suite of marketing, training, club software, and MarTech offerings.
Steve Karasick, CEO of itrac, stated, “we are excited about the combination of itrac’s existing products with DentalPost, SmartBox, and Local Search for Dentists, creating a market leading provider of outsourced marketing services, MarTech, training, and recruiting for independent dentists across the country. DentalPost, SmartBox, and Local Search for Dentists have each impressed us with their respective customers, outstanding commitment to quality services, company values, and helping dentists thrive. Partnering together, we believe the combination of teams, solutions, and support we can bring to dentistry is second to none.”
Dom Mazzone, Managing Partner of Mazzone & Associates, commented, “this transaction is the culmination of nearly two decades of innovation and tireless work put in by the folks at DentalPost, and it was our pleasure to deliver an excellent result for Tonya, Kyle, and the rest of the team. We believe that DentalPost will be at home in the itrac family, and we look forward to following the future success of the combined company.”
Terms of the transaction were not disclosed.
About DentalPost
DentalPost, headquartered in Atlanta, Georgia, is a technology-powered human resources solution offering recruitment, interview management, and career development resources for dental professionals and practices. The company operates the dental industry’s premier recruitment platform, enabling dental offices nationwide to streamline hiring through best-in-class online and mobile solutions. As the industry’s single largest user base of dental professionals, DentalPost helps dental hiring managers source more candidates, increase retention and make smarter hiring decisions using assessment-driven hiring and screening tools.
About itrac
With offices in Oregon, Texas, Indiana, Georgia, and Florida, itrac is one of the leading and longest-standing dental marketing agencies in the US, offering a suite of marketing technology (“MarTech”), outsourced marketing, training, and club software solutions to assist dentists and their practices achieve their goals.
About HealthEdge Investment Partners
HealthEdge Investment Partners, LLC is an operating-oriented private equity firm founded in 2005 that focuses exclusively on the healthcare industry. HealthEdge seeks to achieve superior returns by investing in businesses that benefit from the knowledge, experience, and network of relationships of its partners. HealthEdge’s partners have more than 100 years of combined operating experience in healthcare as CEOs and investors. For more information on HealthEdge, please visit healthedgepartners.com.
About 424 Capital
424 Capital is a growth capital partner that invests in lower middle-market companies within technology and tech-enabled services. 424 Capital works in partnership with founders and management teams to accelerate and scale for long-term growth. Focusing primarily on investments in healthcare and renewable energy, we invest in, empower, and enable companies to step up, stand out, and make a difference in the world. For more information about 424 Capital, please visit 424capital.com.