AN EXPANDING dental group has secured a £10m funding package from Investec that will help it consolidate its place as the dominant firm of its type in Scotland.
The cash injection is enabling Clyde Munro to exceed a milestone of 50 practices owned in the coming weeks – with the largest dental group north of the border already counting more than 400,000 patients on its books.
It takes the total committed by Investec to £30m, which along with private-equity firm Synova has ensured the group has been able to deliver on founder Jim Hall’s bold ambition to create “Scotland’s family dentist”.
Recent weeks have seen Clyde Munro acquire further practices, taking its total to 47, covering all of Scotland’s cities as well and locations from Orkney to the Borders. A further six practices are on heads of terms, with a deal close to confirmation.
Investec’s Stephen White commented: “Clyde Munro is a business with a clear vision. We’re proud to partner with them, giving long-term financial backing to an accomplished team.
“In response, Scottish dentists are confident enough to place their legacy in the hands of the Clyde Munro team, which is in turn investing in those practices to improve outcomes for patients, while protecting the charm and identity of individual practices.
“We’re delighted to be committing further funding towards Clyde Munro’s ambition of becoming Scotland’s local dentist.”
Jim Hall, who launched Clyde Munro in 2015, said: “We’re Scottish-based, have a distinctly Scottish team and we are not looking outside of Scotland. That sets us apart from our rivals and those that have tried to reach scale before us.
“Investec bought into our vision early doors. We were delighted when they first committed to us, but it is even more pleasing that they continue to see where we are going – and the huge potential of our business.”
The Glasgow-based firm has renewed its call for principal dentists looking either for an exit or for a chance to ease the admin burden of running a business to instead focus on their clinical work, to get in touch.
Investec offers international financial solutions to its private, institutional and corporate clients.
Since being founded in 2015 Clyde Munro has enjoyed rapid growth. The group is the brainchild of Jim Hall, who founded it in 2015 with the acquisition of seven practices and the backing of private equity firm Synova and Investec Bank. Since launch, it has enjoyed rapid growth through acquisition and has plans to continue expanding.
It now comprises 47 practices across Scotland, with more than 200 dentists, 400 staff and 400,000 patients. The group’s ambition is to become Scotland’s “local dentist”, operating an expanding network of family dentists across Scotland, with each devoted to providing the best dental care, while reflecting the needs and character of its community.
