HONG KONG, July 2 CITIC Capital Partners, the
private equity arm of CITIC Capital Holdings Ltd, said on
Wednesday it had acquired U.S. dental company DDS LAB LLC on
DDS, established in 2005 and headquartered in Tampa,
Florida, is a dental laboratory that sells custom dental
products to dental service organisations, mid-size group
practices and sole practitioner dentists across the United
"The U.S. dental lab sector is (worth) around $8 billion.
Consolidation is widely expected given the current highly
fragmented nature of the industry," said Cindy Tam, a CITIC
Capital executive, in an emailed response to Reuters questions.
Tam declined comment on the value of the acquisition but
said Hong Kong-based CITIC Capital's preferred deal size is
between $30 million to $50 million.
Hong Kong-based CITIC Capital, which manages more than $2.6
billion in committed capital, is one of the most active
China-based private equity firms buying assets overseas.
The firm has also been involved in two large consortium
buyouts of U.S. listed China companies, the purchase for around
$900 million of AsiaInfo-Linkage Inc and the $3.7 billion buyout
of Focus Media Holding Ltd.
CITIC Capital partnered with California-based buyout firm
Blue Sea Capital and DDS management to acquire the business.
Moelis & Co was financial advisor to DDS.
(Reporting by Stephen Aldred; Editing by David Holmes)