Zagreb, 18 June 2026 – Advance Capital Partners, a private equity investor focused on the Adriatic region, has signed a share purchase agreement with Provectus Capital Partners (“Provectus”) to acquire a 50% stake in Adria Dental Group (“ADG” or the “Group”), the largest dental services platform in Southeast Europe (“SEE”). Following the transaction, Provectus and Advance Capital Partners will jointly support ADG’s next phase of growth. The transaction is subject to approval by the relevant competition authorities.
Adria Dental Group operates a network of 12 clinics across 16 locations in Croatia, Slovenia, and Italy, bringing together some of the most recognized dental brands in the region. The Group employs more than 700 professionals and generates more than €60 million in annual revenues.
Provectus made its initial investment in Arena Dental in July 2021, establishing the foundation for the creation of Adria Dental Group and pursuing the opportunity to consolidate a highly fragmented dental market. At the time of the initial investment, Arena Dental had approximately 60 employees and generated €3 million in revenues.
Working closely with ADG’s management team and founders of partner clinics, Provectus supported the Group’s significant expansion through a successful buy-and-build strategy, strong organic growth, and continuous investment in people, technology, operational infrastructure, and clinical excellence. During Provectus’ ownership, ADG expanded into Slovenia and Italy, completed 12 strategic acquisitions, and developed into the leading dental platform in the region. In parallel with its expansion, ADG continued investing in its capabilities and infrastructure, including the development of a state-of-the-art central dental laboratory through a greenfield investment.
The partnership with Advance Capital Partners marks the beginning of the next strategic phase in ADG’s development. With the support of both shareholders, the Group will continue executing its growth strategy, further consolidating still fragmented dental markets of Croatia, Slovenia, Italy, and Serbia, and building an undisputed regional leader in dental care.
Tim Umberger, Member of the Board at Advance Capital Partners, commented:
“Adria Dental Group has under the stewardship of Provectus, demonstrated exceptional growth and, in just five years, established a leading position in the region. We continue to see significant opportunities for further growth and development. By combining the knowledge and expertise of Advance Capital Partners, Provectus, and ADG’s management team, we can further expand the Group, continue consolidating regional markets, and streamline the operations to further strengthen its position as the leading dental care platform in SEE. We are pleased to partner with Provectus and the management team and together supporting ADG’s evolution into multi-country DSO leader.”
Ivan Dujmović, Partner at Provectus Capital Partners, commented:
“ADG’s development reflects our approach to partnering with exceptional entrepreneurs and management teams to build regional champions. Together with the ADG team, we have transformed the business from a single clinic into the largest dental platform in the region, bringing together leading clinics and professionals across three markets. We are proud of what has been achieved over the past five years and believe ADG is only at the beginning of its journey. We are pleased to welcome Advance Capital Partners as a partner that shares our vision for the Group and look forward to continuing to support ADG’s next phase of growth.”
Gordan Muškić, CEO of Adria Dental Group, commented:
“Together with Provectus, we have built ADG into the leading dental group in SEE while preserving what made our clinics successful from the beginning – clinical excellence, entrepreneurial culture, and commitment to our patients. We are grateful for Provectus’ support over the past five years and excited to welcome Advance Capital Partners as our new partner for the next stage of our development. With the support of both shareholders, we look forward to further expanding our network and continuing to deliver the highest quality dental care across the region.”