P1 Dental Partners lands new credit facility, led by Synovus

INDIANAPOLIS, IN, UNITED STATES, July 13, 2023/EINPresswire.com/ — P1 Dental Partners, a Patient-First & Provider-Led Dental Partnership Organization, (“P1” or the “Company”) successfully closed its new Senior Secured credit facility led by Synovus, with participation by Wintrust Financial, and Modern Bank. P1 is a portfolio company of Prairie Capital, out of Chicago. Centerfield Capital, the Company’s mezzanine lender, also remains in the deal. The financing will be used to refinance the Company’s current debt and support near-term acquisitions.

“What a great team! P1 represents an ideal partner to patients, providers and now to Synovus,” said Dave Allen, Managing Director, Synovus Healthcare Corporate & Investment Banking. “The practices have a distinctive culture that enables high quality outcomes, generates patient loyalty, and creates provider and staff enthusiasm. We are excited about this winning combination.”

“We’re thrilled to be working with Synovus on this refinance, we feel P1 is set up to continue to grow and have the proper capital support it needs to navigate today’s ever-changing macro environment.” said DJ Lipke, Principal at Prairie Capital.

Founded in December 2020, P1 began with 26 practices across the State of Indiana. To-date, P1 has grown to more than 45 locations both in the states of Indiana and Illinois. P1’s goal is to create a leading partnership of elite practices across the Midwest.

Patrick Malloy, Chief Business Development Officer
P1 Dental Partners
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