TJC is expected to launch a sale process for Dental365, a dental service organization operating across eight states, within the next six to 12 months, according to sources. The New York-based private equity firm, formerly known as The Jordan Company, has retained Harris Williams as sellside advisor. Dental365, founded in 2014 and based in New Hyde Park, New York, could be valued based on $75 million to $100 million in EBITDA. Under TJC's ownership since 2021, the company has expanded from nearly 70 to over 160 practices through multiple add-on acquisitions. TJC acquired Dental365 for approximately $440 million in 2021.

In other exit news, Apax Partners has agreed to sell On Course Home Solutions, a residential warranties and repair claims company, to Genstar for an enterprise value of $3.1 billion, yielding a gross MOIC of approximately 3.1x. The company was originally carved out from American Water Works in late 2021 for $1.2 billion and rebranded as On Course in late 2023. Over the nearly five-year hold, Apax drove double-digit organic growth and completed strategic acquisitions, including Consumers Energy's appliance service plan group.

Additionally, Baird Capital has sold Cleanwater1, a wastewater chemicals and solids management company, to Veralto for $465 million, representing a 17x EBITDA multiple. PE Hub had first reported in early May that Baird was exploring a sale of the company.