CMS advises Provectus Capital Partners on sale of 50% stake in Adria Dental Group to Advance Capital Partners
CMS advises Croatian private equity fund Provectus Capital Partners (“Provectus”) on the sale of a 50% stake in Adria Dental Group (“ADG” or the “Group”), the largest regional provider of dental clinics and aesthetics solutions with a strong footprint in Croatia, Slovenia and Italy, to Advance Capital Partners. The transaction is subject to approval by the relevant competition authorities.
The transaction represents a key milestone in the successful development of ADG under Provectus’ ownership. Since its initial investment, Provectus has transformed the Group into a leading platform across the CEE/Adriatic region, pursuing a focused buy-and-build strategy and driving both organic growth and strategic acquisitions.
Today, Adria Dental Group operates a network of 12 clinics across 16 locations in Croatia, Slovenia and Italy, employing more than 700 professionals and generating annual revenues exceeding EUR 60 million. The Group combines some of the most recognized dental brands in the region and has established itself as a market leader in integrated dental and aesthetics services.
Following completion, Provectus will remain a co-shareholder alongside Advance Capital Partners, jointly supporting ADG’s next phase of growth. The partnership is expected to further strengthen the Group’s expansion strategy and accelerate consolidation in the fragmented dental and aesthetics market across Southeast Europe.
CMS is advising Provectus Capital Partners on all legal aspects of the transaction with a team led by partner Alexander Rakosi, together with Christoph Birner. Marija Zrno Prošić, Mario Vrdoljak and Eva-Maria Ivanko (all CMS Zagreb) are advising on Croatian law aspects of the transaction.
Alexander Rakosi, partner and Head of Private Equity commented: “This transaction underscores the strong execution of Provectus Capital Partners’ buy-and-build strategy and sizeable operational growth in the healthcare sector. The entry of Advance Capital Partners as co-investor creates a compelling platform for continued expansion and further consolidation in the dental and aesthetics market across Southeast Europe.”
This mandate once again demonstrates CMS’ strong capabilities in advising private equity investors on complex transactions and its deep expertise in the healthcare sector across Central and Southeast Europe.
Core Team CMS Austria:
Alexander Rakosi, Lead Partner | Head of Private Equity, Corporate/M&A
Christoph Birner, Lawyer | Corporate/M&A
Team CMS Croatia:
Marija Zrno Prošić, Partner | Corporate/M&A
Mario Vrdoljak, Senior Associate | Corporate/M&A
Eva-Maria Ivanko, Associate | Corporate/M&A
