NEW YORK, New York and WAKEFIELD, Massachussetts--JLL Partners and American Dental Partners have announced that JLL, through its affiliated entities, has completed acquisition of ADP.
"I am very pleased to have a partner in JLL that is committed to our core values, strategic goals and objectives, dedication to quality care and long-term outlook," said Gregory A. Serrao, president and chief executive pfficer of ADP.
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Added Michel Lagarde, managing director of JLL: "American Dental Partners is well-positioned as a leading provider of dental practice management services with a national infrastructure and an excellent reputation for providing services to its affiliated practices."
"We look forward to working with ADPI's management team to pursue our shared vision and enhance the company's growth."
ADP is now privately held, and will no longer be listed on NASDAQ after the closing of the market Feb. 9, 2012. As a result of the acquisition, the holders of ADPI's outstanding common shares will receive $19 per share in cash. The total enterprise value ADP, including outstanding indebtedness, as of the closing date is $392 million.
For more information, go to www.jllpartners.com.
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