Dental Invest Estonia OÜ issued two-year bonds

31 Dec 2013

DENTAL INVEST ESTONIA OÜ, THE PARENT COMPANY OF THE ORTHODONTICS CENTER, ISSUED TWO-YEAR BONDS

One of the largest dental and laboratory centres in Estonia issued two-year bonds worth of 2 million euros in December, with the maturity date of November 27, 2015, and the return of 10%. The aim of the issuance was to refinance the loan ofrom the venture capital fund Hanseatic Capital mezzanine. Institutional and private investors of the Baltic countries subscribed the bonds during the targeted emission. Redgate Capital was the financial advisor of the bond issue,  the legal advisor was Law Firm Sorainen and the collateral agent is MAQS Law Firm.

„We are glad to say that with the help of Redgate Capital we managed to find new investors from the Baltic capital market,“ said the Chairman of the Board of Dental Invest Estonia OÜ Vallo Veering. „We are planning to expand our business and it is good that we can engage the growth capital from the Baltic capital markets.“

The Board Member of Redgate Capital Mr. Aare Tammemäe: „Dental Invest participated in the capital markets for the first time and it got good feedback from the investors. The trust of investors was proven by the over-subscription of the issuance.“

This bond issuance is in line with Dental Invest’s growth strategy that includes the development of different business lines (laboratory services, the export of services abroad) and engaging financial investors for the development of the company. The proceeds of the issuance are going to be used for refinancing the liabilities to the current long-term financial investor Hanseatic Capital, and also for using additional resources for private equity and debt securities in the future.

Dental Invest Estonia OÜ is a Holding-business (Group) that was founded in 2010 and includes the following subsidiaries: Orthodontics Center (Ortodontiakeskus OÜ), Dental Design OÜ and Dental Export OÜ. The Group has been in business for over 15 years and employes 70 people, including 16 orthodontists, 32 dentists and 22 dental dental prosthetic specialists. Dental Invest Group earned 521,000 Euros of EBITDA with the first 9 months of 2013; equity and assets amounted 1,6 and 5,1 MEUR respectively in the end of September 2013.

Redgate Capital is an investment management and investment banking services group offerint top class financial advisory (including M&A transactions) and investment management services in the Baltics. It was founded in 2008 by Mr Veikko Maripuu, Mr Mart Altvee and Mr Aare Tammemäe, all of whom have a long-term experience in the business and banking fields.).

Addition Information:

Vallo Veering
Dental Invest Estonia OÜ
Chairmen of the Board
vallo.veering@ortodontia.ee