Tonka Bay Equity Partners Forms AppleWhite Dental
Minnetonka, Minn (March 16th, 2009)
Tonka Bay Equity Partners ("Tonka Bay") has announced the formation of AppleWhite Dental LLC (“AppleWhite”). Based in Dubuque, Iowa, AppleWhite is a dental practice management company formed to acquire dental practices in Iowa and surrounding states. AppleWhite’s strategy is to develop a group of dental practices designed to replicate the traditional office experience, with the cost advantages and management expertise of a group practice. AppleWhite acquired its first practice in Cedar Rapids, Iowa and to-date has acquired five Iowa-based dental practices.
Tonka Bay has teamed with Dr. Thomas McCoy, DDS, and industry veteran Yvonne Mayberry to form AppleWhite. Tonka Bay has previous experience in the dental management industry through its investment in Midwest Dental. Dr. McCoy has been named President of AppleWhite and Ms. Mayberry is a member of the Board of Directors and a consultant to the company.
The market for dental care is large, growing and highly fragmented. Growth is being driven by the aging population and the demand for aesthetic dental procedures. Dental practice management companies have grown throughout the U.S. due to government regulation, insurance compliance, rising costs of establishing an individual practice, the desire by dentists for more flexible work schedules, and the economies of scale that can be achieved in a group practice environment.
About Tonka Bay Equity Partners
Based in Minnetonka, MN, Tonka Bay Equity Partners is a private equity firm that acquires and invests in lower middle market businesses in the highly-engineered manufacturing, business services and value-added distribution sectors. For more information, call (952) 345-2035 or visit www.tonkabayequity.com.