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JHA sheds shares
7th Dec 2006
James Hull has sold shares in his company to a private equity firm
James Hull, managing director of James Hull Associates (JHA), has sold a £20m stake in his cosmetic dental practices company to a private equity firm. The purchasers, Hutton Collins and Company Ltd, markets itself as ‘an innovative investment firm focused on the provision of mezzanine and preferred capital to private businesses in the UK and continental Europe.’ Speaking exclusively to Dentistry, Hull explained the motive behind the deal. He said: ‘Basically, I’ve sold my own shares in the company for around £20m to help finance the acquisition of new specialist and cosmetic practices to increase the company’s practice portfolio. We’ve already identified and lined up 25 specialist and cosmetic dental practices to buy. This should mean the size of the company should more than double in the next two years.’ Despite the multi-million pound deal, Hull still remains the company’s biggest shareholder. He also revealed plans to roll out the services his new company, Facial Aesthetics Centre of Excellence Ltd (F.A.C.E Ltd), provides to all the practices already part of the JHA chain. F.A.C.E Ltd specialises in offering patients cosmetic procedures such as botox fillers, laser treatments and corrective ear surgery. In October, JHA was valued by an investment bank, sparking an erroneous report in the Sunday Times that Hull was to sell his business.
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