The latest round of financing completed by Tralongo LLC, a Sunrise, Florida. firm that buys and consolidates dental practices, is expected to fuel expansion throughout 2017.
Tralongo said Monday that the $55 million debt and equity financing cements the company’s standing as one of the fastest growing dental practice management organizations in the U.S.
Funding was raised via Freedom 3 Capital LLC in New York, along with Bankers Healthcare Group and Tralongo’s own shareholders.
“We are thrilled to jump-start the next step in further developing our unique approach to dental practice consolidation,”Tralongo founder and CEO Ken Tralongo said.
Managers at Freedom 3 Capital said Tralongo’s reputation and its management team’s combined 90 years of expertise made it an attractive funding partner.
“Tralongo fits squarely within Freedom 3 Capital’s criteria of an attractive investment – a company with a strong position within its industry and an excellent management team able to execute on its strategy,” Erik Glover, a Freedom 3 Capital partner, said. “We worked closely with Tralongo’s management team to create a capital structure that provides flexible capital to accelerate the company’s growth.”
Tralongo said it helps investors acquire dental practices other offices and assists with management, marketing and human resources.