May 4, 2020 (Boston, MA) – Covington Associates, a leading middle market investment bank announced its role as financial advisor to Dental Select in the sale of its business to Ameritas. Terms of the agreement are not disclosed.
Dental Select is a licensed third-party administrator and insurance agency based in Salt Lake City, Utah. Dental Select began administering discount dental programs in 1989 and now serves more than 470,000 customers with employer-sponsored dental, vision, and AD&D products, as well as individual dental plans.
Ameritas offers a wide range of insurance and financial products and services to individuals, families and businesses serving nearly 4.5 million customers. Ameritas is also one of the country’s largest dental and vision carriers. “Bringing the national and regional perspectives together will ultimately strengthen both companies,” said Bill Lester, Ameritas president and chief executive officer.
Brent Williams, founder and chief executive officer of Dental Select, stated, “Innovation and a customercentric focus have made Dental Select a strong player in the dental market for over three decades. Joining the Ameritas family gives us additional support to pursue our mission of making dental simple.”
“Ameritas and Dental Select are dedicated to enhancing customer experience,” stated Lester. “Dental Select’s entrepreneurial and technology-focused approach to insurance will further the Ameritas business of fulfilling life.”
Dental Select will operate as a subsidiary of Ameritas Life Insurance Corp. Lester added, “This is a strategic acquisition that positions both Ameritas and Dental Select for accelerated collective growth and excellent customer and provider experiences.”
Covington Associates is a leading middle market investment banking firm offering advisory services in the areas of M&A, capital raising, strategic advisory, fairness opinions, and valuations to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Covington’s mission has remained unchanged since its founding in 1991 – provide clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization. Since its inception, Covington Associates has completed more than 300 transactions globally for both private and publicly traded companies totaling over $17 billion. Further information about Covington Associates can be found at http://www.covingtonassociates.com/overview.
Dental Select is a licensed third-party administrator and insurance agency based out of Salt Lake City, Utah. Founded in 1989, the company provides group dental, vision, and AD&D benefit programs for large employers and small businesses, as well as dental plans for individuals and families. To learn more, visit dentalselect.com.
Ameritas is a marketing name for Ameritas Mutual Holding Company and its affiliated subsidiary companies, including Ameritas Life Insurance Corp. and Ameritas Life Insurance Corp. of New York. Founded in 1887, Ameritas offers a wide range of insurance and financial products and services to individuals, families and businesses. These products and services include life insurance; annuities; individual disability income insurance; group dental, vision and hearing care insurance; retirement plans; investments; asset management and public finance. Securities and investment advisory services offered through affiliate Ameritas Investment Company LLC., member FINRA/SIPC. For more information, visit Ameritas.com.