backATLANTA, Oct. 23, 2015 — King & Spalding advised American Capital Equity on the sale of Affordable Care, Inc. (“ACI”), the largest denture-services provider in the U.S. with more than 200 affiliated practices in 39 states, to Boston-based investment firm Berkshire Partners. Terms of the transaction were not disclosed.
A $1.1 billion private equity fund focused on acquiring control equity positions in companies with $5 to $25 million of EBITDA, ACE III is managed by a subsidiary of American Capital Asset Management, LLC, which is wholly owned by American Capital, Ltd., and based in Bethesda, MD.
The King & Spalding team was led by partner and head of the firm’s Corporate group, Ray Baltz, with corporate counsel Michael Cubell in New York and associate Brian Park in Atlanta. Additional assistance on tax matters was provided by New York partner John Sweet and Atlanta counsel Mark Kelly; partner Sam Choy and associate Ryan Gorman in Atlanta provided benefits expertise; and New York partner Ellen Marie Snare provided assistance on leveraged finance matters.
About King & SpaldingCelebrating more than 130 years of service, King & Spalding is an international law firm that represents a broad array of clients, including half of the Fortune Global 100, with 900 lawyers in 18 offices in the United States, Europe, the Middle East and Asia. The firm has handled matters in over 160 countries on six continents and is consistently recognized for the results it obtains, uncompromising commitment to quality, and dedication to understanding the business and culture of its clients. More information is available at www.kslaw.com.