DenMat, a cosmetic dentistry manufacturing company founded in Santa Maria 37 years ago by Robert Ibsen, was acquired earlier this month by Centre Partners and Mill Street Partners LLC.
Centre Partners is a private-equity firm located in New York City. Mill Street Partners is a Los Angeles-based company that provides investment advise to makers of dental and medical devices.
Steve Semmelmayer, Robert Cartagena and Todd Tiberi are the founders of Mill Street Partners and will take over as DenMat’s new leadership. Semmelmayer has been named the company’s new chief executive officer, while Cartagena will take over as chief operating officer and Tiberi chief administrative officer.
The three men comprised the leadership team at Discus Dental, a company that offered products similar to DenMat that was purchased by Philips Oral Healthcare.
Founded in 1974, DenMat is best known for its teeth-whitening products, Snap-On Smile and Lumineers, its minimally invasive porcelain tooth veneers.
The company is credited with pioneering at-home and professional teeth whitening products back in the 1990s with its Rembrandt brand of oral care products. DenMat sold the Rembrandt line to Gillette Company in 2004.
Centre Partners says DenMat will continue to focus on development of its laboratory products and services, and continue building its distribution network for dental professionals.
In addition to manufacturing the smile-improving Lumineers and Snap-On Smile, the company also maintains a vast sales, education and support system.
“Over the past three decades, DenMat created an extraordinary track record and built some of the most successful brands in dentistry,” Semmelmayer said in a press release announcing the acquisition. “Our goal is to leverage DenMat’s brand equity by expanding the product offering and providing dental professionals with a wide range of smile solutions.”
The acquisition comes nearly three years after DLJ Merchant Banking Partner purchased DenMat from Ibsen in December 2008.
One of the Santa Maria Valley’s larger companies, DenMat employs 376 at its Santa Maria headquarters and manufacturing facility, and 445 nationwide. The company also maintains a sales office in Canoga Park.