December 2020

Dear EDP Partner Investors


I am pleased to write an initial investor update following our acquisition of Elite Dental, the dental supply business based in Davie, FL. As you know, with your participation, we acquired 100% of Elite Dental, on November 23, 2020 


December financials for Elite Dental were within range of the EBITDA values at which we acquired the business. Sales in the dental supply industry tend to be slower during the holidays and then pick up after the New Year. This is because many dentists close their office at the end of the year to take time off, and because there are overall fewer patient visits during the holidays. 


Our main focus in December was to transition Elite Dental to our ownership and integrate Elite into the operational framework and processes of Smile Dental. We also made the decision to relocate Smile Dental’s warehouse operations to the Elite Dental office and warehouse facility in Florida because it will result in substantial savings in overhead expenses between the two companies 


As a reminder, distributions for Elite Dental investors will accrue from the first day of ownership, but the initial distribution of profits will take place after the third month post acquisition. Please anticipate first distributions to arrive in March 2020 and will include distribution payments for the following months: the pro-rated portion of November (November 23 – November 30), December 2020, January 2021, and February 2021. 


If you have any questions, please do not hesitate to contact me directly on 202-468-3799 or via email. 




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