Gimv hands Benedenti back to its founders following growth trajectory in Belgian dental care
At the end of 2015, Gimv acquired a minority stake in Benedenti, a group of multidisciplinary dental practices in Flanders, Belgium. Founded in 1985 as a private dental practice in Herentals by Rik Claes and his wife Griet Luyten, the practice has grown over the years first into a large group practice and then – with Gimv’s support – into a group with eight branches. In September 2018, the new state-of-the-art group practice and headquarters opened in Herentals. With 15 (treatment) chairs, this is one of the largest group practices in Flanders.
By developing multidisciplinary group practices, Benedenti responds to a range of challenges facing dental care in Flanders, such as a substantial number of practising dentists rapidly approaching retirement age, an insufficient influx of new graduates ready to enter professional practice and the emergence of dental hygienists. Other factors include the many technological and scientific developments in the field of dentistry and changing expectations of patients and dentists. Accessible, high-quality dental care is at the heart of the group’s expansion and the continuing professionalisation of the group practices.
Through Gimv’s involvement and driven by the current CEO and founder Rik Claes, extra resources have been put into forming partnerships with other dental practices, developing new group practices and continuing to invest in the latest technology. The number of employees has evolved from around 50 in 2015 to nearly 150 today and, through a team of 60 dentists, Benedenti Group is able to offer all dental specialisms.
Gimv announces today that it is selling back its stake to the founding Claes family.
Bart Diels, Head Gimv Health & Care, explains: “We’re glad that we’ve been able to support Benedenti and the Claes family with the continuing expansion and professionalisation of the group. Led by the family, Benedenti will continue to grow organically from a strong base, with a quality-focused culture, dedicated dentists & staff and a unique DNA.”
Rik Claes, CEO Benedenti Group, adds: “We look back with satisfaction on our partnership with Gimv. Thanks to their input, we’ve been able to expand and professionalise Benedenti further. Now we want to stand on our own two feet again. It’s our goal for Benedenti Group to remain in the hands of dentists in the long term, and to continue growing strongly into an outstanding, recognisable group for staff and patients.”
The yield on Benedenti over the entire investment period is in line with Gimv's long-term average. No further financial details, however, are provided on the transaction itself.