Principal Financial Group Agrees With Southland Benefit Solutions To Acquire Its Single-State Dental Network, DentaNet; Terms Not Disclosed
Benzinga Newsdesk 8 months ago
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Today, Principal Financial Group® announced a definitive agreement with Southland Benefit Solutions (SBS) to acquire its single-state dental network, DentaNet. In addition, Principal will obtain renewal rights for a
Today, Principal Financial Group® announced a definitive agreement with Southland Benefit Solutions (SBS) to acquire its single-state dental network, DentaNet. In addition, Principal will obtain renewal rights for a block of group insurance contracts through Canopy Insurance. Canopy Insurance and Southland Benefit Solutions are subsidiaries of Collateral Holdings, LLC.
Perella Weinberg Partners served as financial advisor to Principal, with Skadden, Arps, Slate, Meagher & Flom LLP acting as legal counsel. Sherman & Company served as financial advisor to Collateral Holdings, LLC, with Maynard Nexsen PC acting as legal counsel. Terms of the transaction were not disclosed.