Shearman & Sterling advised CITIC Capital Partners in the acquisition of DDS LAB (“DDS”). CITIC Capital Partners partnered with Blue Sea Capital and DDS’s management team to acquire DDS. The financial terms of the transaction were not disclosed.
DDS is a leading National Board Certified full-service dental laboratory that sells custom dental prosthetic appliances to dental service organizations, mid-size group practices and sole practitioner dentists across the United States. The company is headquartered in Tampa, Florida, and has additional distribution facilities in El Segundo, California, and Dallas, Texas.
CITIC Capital Partners, the private equity arm of CITIC Capital Holdings Limited, operates in China, the United States and Japan, and currently manages USD2.6 billion of committed capital on behalf of over 50 international investors.
The Shearman & Sterling team included partner Dana Kromm and associates Christine Huang and Scott Lucas (all San Francisco-Mergers & Acquisitions). Other lawyers involved included partners Lee Edwards (Beijing-Mergers & Acquisitions), Gus Atiyah (Washington, DC-Finance), Richard Hsu (Palo Alto-Intellectual Property Transactions), Larry Crouch (Palo Alto-Tax), and Peter Chen (Hong Kong-Capital Markets); counsel Daniel Stellenberg (Palo Alto-Executive Compensation & Employee Benefits) and Sharon Lippett (New York-Executive Compensation & Employee Benefits); and associates Yvonne Cheng (Beijing-Mergers & Acquisitions), Stella Yeung (Hong Kong-Capital Markets), Beverly Chang (Washington, DC-Finance), Temi Adeniji (New York-Corporate), Yunpeng Fan (Beijing-Capital Markets), Mikael Abye (San Francisco-Litigation), Zheng Bao (Palo Alto-Intellectual Property Transactions), Benjamin Petersen (Palo Alto-Intellectual Property Transactions), Ryan Bray (Palo Alto-Tax) and Regina Park (New York-Executive Compensation & Employee Benefits).