Trinity Capital Inc. Provides $40 Million in Growth Capital to Impress

Rhea-AI Summary

Trinity Capital Inc. (NASDAQ: TRIN) has committed $40 million in growth capital to Impress, a leading European orthodontic chain specializing in invisible aligners. The funding is part of a larger $117 million funding round and will support Impress's expansion plans, including opening 20 new clinics across Europe. Based in Barcelona, Impress operates a network of clinics serving over 250,000 patients annually and has recently acquired DrSmile to strengthen its market position in Europe.

Positive

• Secured participation in a large $117M funding round
• Investment in established company serving 250,000+ patients annually
• Expansion of lending portfolio in European healthcare sector
• Investment in company with recent M&A activity (DrSmile acquisition)

Negative

• None.

Insights

Financial Analyst

The $40 million debt financing commitment to Impress represents a significant business expansion opportunity for Trinity Capital (TRIN). This deal, part of a larger $117 million funding round, demonstrates TRIN's strategic positioning in the growing healthcare technology sector. The investment carries several positive implications:

• Revenue Generation: The debt financing will generate interest income, contributing to TRIN's recurring revenue stream
• Portfolio Diversification: Expands TRIN's exposure to the European healthcare market
• Risk Management: Impress' established market presence with 250,000 annual patients and recent DrSmile acquisition suggests stable cash flow potential

The deal's structure as part of a larger funding round indicates strong co-investor confidence and potentially lower risk exposure for TRIN. The planned expansion of 20 new clinics provides clear visibility on how the capital will be deployed for growth.

Healthcare Market Analyst

Impress' expansion strategy in the European orthodontics market presents a compelling growth narrative. The invisible aligner market is experiencing rapid growth, driven by increasing consumer preference for aesthetic dental solutions and technological advancements. The acquisition of DrSmile has strengthened Impress' competitive position, while the planned addition of 20 new clinics indicates strong market demand. The company's focus on combining clinical excellence with technology aligns with modern healthcare delivery trends. The large patient base of 250,000 annual patients demonstrates significant market penetration and operational scale, suggesting strong underlying business fundamentals that support Trinity's investment thesis.

PHOENIX, Nov. 12, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $40 million in growth capital to Impress, a leading orthodontic chain in Europe, specializing in invisible aligners.

Headquartered in Barcelona, Spain, Impress' network of clinics spans multiple European countries and serves over 250,000 patients annually. The company's recent acquisition of DrSmile has further solidified its leadership in key European markets.

"We're excited to support Impress in their mission to make high-quality orthodontic care more accessible across Europe," said Craig Fox, Managing Director, Tech Lending at Trinity. "Impress' focus on clinical excellence, coupled with their innovative technology and scalable business model, positions them to make a meaningful impact in advancing healthcare standards."

The $40 million debt financing from Trinity is part of a larger $117 million funding round for Impress. This capital will enable Impress to continue expanding, including plans to open 20 new clinics across Europe.

"We are thrilled to partner with Trinity Capital in this new funding round," said Vladimir Lupenko, CEO of Impress. "With Trinity's partnership, we look forward to expanding our clinic network and reaching more patients, ensuring that everyone has access to effective and affordable orthodontic solutions."

Fieldfisher, a European law firm with practices in technology, financial services, energy and natural resources and life sciences, represented Trinity in the transaction.

About Trinity Capital Inc.

Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.

About Impress

Impress is Europe's leading orthodontic chain, transforming smiles across Spain, Italy, Portugal, France, the UK, Germany, Sweden, the Netherlands, Ukraine, and the U.S. With a focus on medically driven orthodontic solutions, advanced R&D, and a high standard of clinical oversight, Impress specialises in patient-centred care powered by technological innovation. The company's extensive network serves over 250,000 patients annually, making it Europe's largest chain of invisible aligners.

Media Contact
Vibhor Garg
Managing Director, Marketing
Trinity Capital Inc.
vgarg@trincapinvestment.com

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SOURCE Trinity Capital Inc.

FAQ

How much growth capital did Trinity Capital (TRIN) commit to Impress in November 2024?

Trinity Capital (TRIN) committed $40 million in growth capital to Impress as part of a larger $117 million funding round.

What will Impress use Trinity Capital's (TRIN) funding for?

The funding will support Impress's expansion plans, including opening 20 new clinics across Europe.

How many patients does Impress, Trinity Capital's (TRIN) investment target, serve annually?

Impress serves over 250,000 patients annually through its network of clinics across Europe.

Which company did Impress acquire before receiving Trinity Capital's (TRIN) investment?

Impress acquired DrSmile, strengthening its leadership position in key European markets.