Former Discus Dental CEO Steve Semmelmayer will be the new CEO at DenMat Holdings LLC after his Mill Street Partners and another private equity firm acquired the California-based company known for its LUMINEERS brand of thin veneers and Snap-On Smile among other products.
Former Discus Dental CEO Steve Semmelmayer will be the new CEO at DenMat Holdings LLC after his Mill Street Partners and another private equity firm acquired the California-based company known for its LUMINEERS brand of thin veneers and Snap-On Smile among other products. Semmelmayer's new management team at DenMat includes COO Robert Cartagena and CAO Todd Tiberi, both of whom worked with him at Discus prior to that company's sale to Philips last year.
According to a press release from DenMat, the company's new leadership plans to expand laboratory products and services while building out the distribution network to expand sales. DenMat already has great consumer awareness of its product lines, and with the dental industry experience the new leadership team brings, it will certainly be interesting to see what new innovations spring from the company's Santa Maria, Calif., headquarters.
Read the full press release below:
DenMat Holdings Acquired by Centre Partners and Mill Street Partners
SANTA MARIA, Calif., Nov. 15, 2011 /PRNewswire/ -- DenMat Holdings, LLC today announced that it has been acquired by affiliates of Centre Partners and Mill Street Partners.
DenMat is the world leader in thin, porcelain veneer systems for smile enhancement. The Company also offers a wide-range of other aesthetic and restorative smile solutions, as well as a broad array of professional dental materials and supplies. DenMat will be led by a new management team consisting of Chief Executive Officer Steve Semmelmayer, Chief Operating Officer Robert Cartagena, and Chief Administrative Officer Todd Tiberi. All three served as part of the executive team at Discus Dental, LLC prior to its nine-figure sale to Royal Philips Electronics in December 2010. The Company will focus on continued development of its laboratory products and services and building out its distribution network for both current and future professional dental products.
"Over the past three decades, DenMat created an extraordinary track record and built some of the most successful brands in dentistry," said CEO Steve Semmelmayer. "The Company pioneered tooth whitening and the premium oral care category with products such as the Rembrandt® line and, more recently, made aesthetic dentistry more accessible with its Lumineers® thin veneer systems and Snap-On Smile®, its proprietary smile makeover system. Our goal is to leverage DenMat's brand equity by expanding the product offering and providing dental professionals with a wide range of smile solutions," said Semmelmayer.
"Centre Partners is extremely excited about this acquisition," said Robert Bergmann, Senior Partner at Centre. "We expect to see significant growth at the Company and Centre is committed to making additional acquisitions of companies, products and technologies while building DenMat into a global dental business," said Bergmann.
DenMat's headquarters and manufacturing facilities are based in Santa Maria, California, and it has an additional sales office in Canoga Park, California.
About DenMat Holdings, LLC
DenMat Holdings, LLC, manufactures a broad range of cosmetic, restorative and clinical product solutions, available in the U.S. and over 68 countries worldwide. Ongoing partnerships continue to position DenMat in the forefront of the dental industry. LUMINEERS, the contact-lens thin veneers placed without the need for anesthetic, extensive prepping or temporaries, is the cornerstone of DenMat's Smile Portfolio, and the LUMINEERS Smile Design Studio is recognized as a leading laboratory for both minimally invasive and traditional-preparation restorations. DenMat also offers continuing education programs internationally, including Destination Education events held at resort locations across the U.S. For more information, visit www.denmat.com or call 800-433-6628.
About Centre Partners
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire a meaningful economic stake in the future success of their businesses. Centre Partners has invested over $3 billion in more than 90 transactions, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. The firm is currently investing through its fifth fund.
About Mill Street Partners
Founded in Los Angeles in 2011, Mill Street Partners provides strategic investment advice in the dental and medical device industries. Its founders are Steve Semmelmayer, former President and General Manager of Kerr (a division of Sybron), Robert Cartagena an 18-year veteran of the dental industry and former COO of Discus Dental LLC, and Todd Tiberi, former VP and General Counsel of Discus Dental and attorney at New York-based Skadden, Arps, Slate, Meagher & Flom LLP.