Oakpoint, a Raleigh, North Carolina-based dental services organization, has selected a buyer, according to three sources familiar.

The Longshore Capital-backed DSO, which was running a formal sales process, marketed itself off of USD 17m EBITDA, according to two of the sources. Oakpoint collected final bids at the end of September, according to a previous Mergermarket report.

Oakpoint is no longer working with Houlihan Lokey, said the sources.

Oakpoint received four comparable offers of more than 11x EBITDA, said one of the sources. The deal, which is under letter of intent, is expected to close in 1Q next year, added the source.

The company projects 30% growth this year via M&A, and year-end revenue of USD 125m to USD 130m, according to a previous report. Oakpoint aims to reach 50 to 60 total locations this year.

Oakpoint was co-founded by Mick Janness, CEO, and Erik Strang, CFO, in 2019 with an investment from Longshore Capital.

Oakpoint, Longshore, and Houlihan Lokey did not respond to requests for comment.