P&M Corporate Finance, LLC Announces the Sale of Dental Art Laboratories, Inc. to National Dentex Corporation (NASDAQ:NADX)
Southfield, MI (September 11, 2008) — P&M Corporate Finance, LLC (PMCF) is pleased to announce the sale of Dental Art Laboratories, Inc. (DAL) to National Dentex Corporation (NASDAQ: NADX), one of the largest owner/operators of dental laboratories in the United States. Based in Lansing, Michigan, Dental Art Laboratories is a leading manufacturer of customized dental prosthetics. It has served dentists, universities and institutions throughout the state of Michigan and in surrounding states since 1950.
PMCF worked closely with the shareholders of Dental Art Laboratories to evaluate, manage and successfully complete this strategic transaction. The acquisition of DAL enables NADX to enhance its presence in a key region of the Michigan market and to leverage best practices through complementary product and service capabilities.
Mr. David Brown, President & CEO of NADX, commented: “We are delighted today to welcome into the National Dentex family of labs, Dental Art … Dental Art is led by Dick Blundy and Bryan Medler who share a dedication and commitment to customers, community, employees and the dental industry. At National Dentex we have high regard for each of these values. The team they have built consists of long-tenured supervisors, managers, technicians and support personnel, averaging 18 years of industry experience and over 14 years of service to Dental Art’s clients. Over this period they have built a reputation for industry leading quality, consistency and service. We are excited to welcome this entire team to National Dentex and look forward to supporting and helping them continue their success.”
The law firm of Foster Swift Collins & Smith served as legal advisor to Dental Art Laboratories. The transaction closed effective September 1, 2008.
About Dental Art Laboratories
Dental Art Laboratories is one of the largest, privately-held dental laboratories in the country and is a leading dental laboratory in the state of Michigan with over 800 customers. It is a leading manufacturer of crowns, bridges, implants, dentures, partials and porcelain and ceramic products ranging from individual aesthetic replacements to full mouth restorations. The company also provides case consultation, diagnostic assistance, troubleshooting and pick-up and delivery services for its customers.
About National Dentex Corporation
Publicly-traded National Dentex Corporation owns and operates 48 laboratories in 31 states, including Michigan, and one Canadian province. It serves an active customer base of over 24,000 dental practices and other institutions and provides a full range of custom-made dental prosthetic appliances, including dentures, crowns and fixed bridges, and other dental specialties. National Dentex Corporation is traded on the NASDAQ exchange and is based in Natick, Massachusetts.
About P&M Corporate Finance, LLC
P&M Corporate Finance, LLC is a boutique investment bank providing merger and acquisition services to middle-market companies in North America and Europe. PMCF has dedicated industry teams providing services to the industrials, life sciences, plastics & packaging and business services industries. PMCF is headquartered in Southfield, Michigan with additional offices in Cleveland, Ohio and Chicago, Illinois.