We have tremendous respect for the network Jack and Steve have built over the past 15 years and we look forward to working with them to further the company's reputation as an acquirer of choice."
Cherry Tree's talented team of local dentists love serving their patients and are helping them alleviate stress by allowing these high-quality professionals to maximize their talents and minimize the pressures of back office responsibilities. Ira Moreland, ICV Managing Director, commented, "Cherry Tree prides itself on personal and high touch dentist engagement while maintaining established practices. ICV shares our vision, mission, and values and working with them will enable us to leverage their expertise and broaden our reach to enhance the patient experience with ongoing technology improvements and the addition of new specialty services." Focusing on solo practitioners or small dental offices, our sophisticated model is building a successful network serving communities throughout Wisconsin by providing dentists that opportunity to transition their practices and, if they choose, remain with their practice in order to focus on their patients. Cherry Tree is benefiting as dentists relocate from large cities to secondary markets and we look forward to this new partnership to grow the business in new and existing markets throughout Wisconsin."Ĭommenting for Cherry Tree, Co-CEO's Jack Young and Steve Sorrel, said, "When it comes time to discuss succession planning and practice continuity strategy, dentists want to make sure their patients continue to receive the highest quality of care. Qian Elmore, ICV Managing Director, said, "Cherry Tree has emerged from a very challenging year in a superior position and is very well positioned to capitalize on the shifting market dynamics in Wisconsin and surrounding states as more dentists choose to transition from owning their own practice and prefer to focus on serving patients. As part of Cherry Tree's cohesive corporate entity, offices are supported by a central corporate team that provides a variety of services including human resources, payroll, marketing, information technology, and other back office functions.
Founded in 2006 and based in Madison, Cherry Tree is the largest independent general dentistry provider in Wisconsin, operating 28 locations in 10 markets. NEW YORK, Ma/PRNewswire/ - ICV Partners, LLC, a leading investment firm focused on lower middle market companies in business services, consumer goods & services, food & beverage, and healthcare, announced today that it has made a majority investment in Cherry Tree Dental (Cherry Tree), in partnership with Co-CEOs Steve Sorrel and Jack Young.Ĭherry Tree Dental is a leading general dentistry provider in Wisconsin that employs a proven acquisition and office consolidation strategy dedicated to small, one or two-dentist practices.
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