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China's CITIC Capital Buys U.S. Based Dental Company DDS LAB LLC

CITIC Capital Partners; a Chinese private equity firm, is acquiring U.S. based DDS LAB LLC. DDS is a dental laboratory that sells custom dental products to dental service organizations, mid sized group practices and sole practitioners in the United States. CIndy Tam, a CITIC Capital executive, said "The U.S. dental lab sector is around $8 billion. Consolidation  is widely expected given the current highly fragmented nature of the industry." Though the value of the acquisition was not released Tam said the company preferred a deal size between $30 million to $50 million.