Adelis passes the baton in Nordentic to Corus
Adelis Equity Partners Fund I (“Adelis”) divests its majority stake in Nordentic, the largest dental labs Group in the Nordics, to Corus. Corus is a leading dental labs Group in Europe, with operations in France, Spain, the Netherlands, Belgium and Portugal.
Adelis invested in Nordentic in 2017, in partnership with the founders and key management of Nordentic, including the CEO, Johnny Tekin. During Adelis’ ownership, over 20 dental labs have come together as one Group, and as a pioneer in the technical development of the industry. By combining management’s deep industrial knowledge with strategic acquisitions and investments in lab technology, Nordentic has evolved as one of Europe’s leading dental labs Group, solely focusing on onshore/local production.
“Johnny, the rest of Nordentic’s management, and the lab managers have done a fantastic job transforming Nordentic as well as managing the company through the challenging times of Covid-19. We are proud of what we have achieved together and look forward to following Nordentic in its journey together with Corus”, say Hampus Nestius and Joel Russ at Adelis.
Thomas Berglund, Chairman of Nordentic says: “It has been an honor to work with the team of Nordentic. Through joint efforts, we have created a strong company for our customers, employees, and owners.”
“Adelis and our board of directors have been great partners to Nordentic, and I am very grateful for their contribution over the past years. They have been material in helping us set and deliver on the vision of Nordentic and have been a good speaking partner on both strategic and operational matters. I am very excited to join forces with Corus. We are both pioneers in the industry. I look forward to shaping the future of our industry together with them,” says Johnny Tekin, CEO of Nordentic.
The parties have agreed not to disclose the purchase price. The transaction is expected to close during Q3 2022.
Adelis was advised by Clearwater International, White & Case and Svalner on the transaction.
For further information:
Johnny Tekin, Nordentic, johnny.tekin@nordentic.com
Joel Russ, Adelis Equity Partners, joel.russ@adelisequity.com
Hampus Nestius, Adelis Equity Partners, hampus.nestius@adelisequity.com
About Nordentic
Nordentic is the leading dental lab company in Scandinavia with over 20 labs that have come together as one group since 2016. Nordentic has been a pioneer in the technical development of the industry. By combining management’s deep industrial knowledge with strategic acquisitions and investments in lab technology, Nordentic has evolved as one of Europe’s leading dental labs Group, solely focusing on onshore/local production.
About Adelis Equity Partners
Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 35 platform investments and more than 150 add-on acquisitions. Adelis today manages approximately €2.5 billion in capital. For more information, please visit www.adelisequity.com.