Rock Dental Secures $90M in Funding to Continue Growth, Adds Chief Development Officer

Spencer Lunghino Joins Rock Dental
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December 2, 2024

Originally appearing in Arkansas Business.

Rock Dental Brands of Little Rock on Monday announced it secured $90 million in funding to continue its growth and hired Spencer Lunghino as chief development officer.

In a news release, the dental services organization said TPG Twin Brook Capital Partners of Chicago provided $50 million in senior debt financing and Audax Private Debt of New York provided $40 million in mezzanine financing to fund expansion efforts. Rock Dental has 109 affiliated clinics in Arkansas, Missouri, Tennessee, Florida and Alabama.

“We continue to believe in Rock Dental Brands’ growth trajectory and are pleased to further support the Company’s financing needs as it scales its business,” Faraaz Kamran, senior partner at TPG Twin Brook Capital Partners, said in the release.

With the new funding, Rock Dental is adding two new clinic partnerships in Birmingham, Alabama: Chelsea Orthodontics, led by Dr. Kelly Page, and Alabaster Smiles Pediatric Dentistry, led by Dr. Lauri Williams.

Lunghino will lead Rock Dental’s mergers and acquisitions efforts as chief development officer. He joins the company from Southern Veterinary Partners of Birmingham, where he was vice president of growth for more than three years. His past roles include director of corporate development and strategic finance at naviHealth of Nashville, Tennessee, and private equity senior associate at Blue Sea Capital LLC of West Palm Beach, Florida, according to his LinkedIn page.

“Rock Dental Brands is proud to continue expanding its footprint to bring quality oral health providers and services to more patients and communities,” Rock Dental CEO Kristi Casey said in a statement. “With the support of TPG Twin Brook Capital Partners and our new partnership with Audax Private Debt, as well as the strategic leadership of our new Chief Development Officer, we’re well-positioned to continue out-pacing our record in industry excellence and business growth, despite the market’s challenging conditions.”

Rock Dental entered the Birmingham market in 2022 with the acquisition of Birmingham Orthodontics.

The expansion in Birmingham follows the addition of four affiliates in four states early this year.

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  • Job Title: Westrock Orthodontics

    "The decision to affiliate with Rock Dental Brands was easy. They are a dental practice management group that is founded by dentists and focuses on putting patients first. This affiliation has not only relieved harrowing administrative tasks, but also allowed me to keep my professional autonomy and set my own schedule. All of this, plus Rock Dental Brands’ proven track record, I am able to trust them to do the right thing for my practice and my patients."

  • Job Title: Owner Founder | Chief Dental Officer

    When Rock Dental Brands was started there was an underlying culture laid down to do what is best for the patient every time and the practice will take care of itself. This culture has been practiced by our doctors, our staff and our management team from the inception. Every day we treat patients and the doctors and office teams are supported by our home office and the management team. This team effort allows us to provide great dental care by allowing the doctors to concentrate on what they do best……which is to take care of patients. We continue to strive to improve our dentistry that we provide in a warm, friendly environment. Being a part of Rock Dental Brands allows for discussion between specialists that only adds to the quality of care the patient receives. “We are serious about quality, if we weren’t, I would not be a part of it."

  • Job Title: Owner | Pediatric Dentist

    "Rock Dental Brands prides themselves on taking care of their patients before profits. I was in a place in my life where I wanted to be with a group who was owned by dentists, practiced dentistry, and knew what it is like to own a business and to provide excellent patient care. Rock Dental has wonderful values that align with my own core values. I love that about them."

  • Job Title: Owner Founder | Orthodontist

    "I love to see patients - that's why I became an orthodontist. What I don't love is bills, past due accounts, managing employee 401(k)'s, bonuses, marketing, and of course countless other issues that unexpectedly arise each day. Rock Dental Brands has taken many things off my hands leaving me free to concentrate on what I love: treating patients. The partnership between Rock Dental and our team "on the ground" has been wonderful. Rock Dental is an extension of our team that benefits our practice and our patients in way that I was unable to provide myself."

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