PE titan cashes in a lot of SmileDirect chips

A New York-based investment firm that in 2021 was SmileDirectClub’s largest institutional shareholder has dumped the remainder of its holdings in the Nashville-based dental company.

Clayton Dubilier & Rice was the lead investor in a 2018 $380 million pre-initial public offering funding round for SmileDirect. At the end of 2020, the firm sold more than half its stake in the company.

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