, headquartered in Pittsburgh, Pennsylvania, is the fastest growing dental services organization of scale in the United States and now consists of a network of over 200 dental practices in 11 states and 23 regional markets.
Investment firm Jacobs Holding said on Monday that it has agreed to acquire North American Dental Group (NADG) under an agreement with the former's equity partners Abry Partners, The Riverside Company and the co-founders Ken Cooper and Dr Andrew Matta.
Following the acquisition of NADG, Jacobs significantly expands the footprint of its dental care activities and creates the first transatlantic dental group.
Additionally, NADG will complement Colosseum Dental Group (CDG), the leading European dental care provider which is majority owned by Jacobs Holding.
Consolidated-Tomoka Land Co (NYSE MKT:CTO) revealed on Wednesday that it has sold 37.3 acres of land located east of Interstate 95 and south of LPGA Boulevard in the Tomoka Town Center for about USD5.2m or approximately USD139,000 per acre to an affiliate of North American Development Group (NADG), (the initial NADG sale).
Proceeds from the sale to NADG will be used by the company in a tax-deferred exchange, under Section 1031 and in addition to the sale price, NADG will pay about USD1.8m as reimbursement of the costs incurred for the infrastructure work on a pro-rata basis on the 37.3 acres, the company added.
The initial NADG sale reflects the first of multiple transactions contemplated under a single purchase and sale agreement with NADG, the company added.