One of the largest privately-owned dental businesses in Scotland has been sold to Portman Dental Care.
Caledonian Dental Care consists of two dental practices with a total of 19 surgeries based in Perth, Scotland.
The sale, brokered by Christie & Co, went for an undisclosed sum in excess of the asking price.
‘We were approached by Mike and John (co-partners) to value their business, position it for sale, negotiate terms and project manage the transaction,’ Paul Graham, director at Christie & Co, said.
‘We ran a confidential marketing process to key operators in the UK dental market.
‘Following significant interest and multiple bids, the business was successfully sold to Portman Dental Care.
‘Mike and John have done an incredible job building their practice into the sizeable, thriving operation it is today.
‘It was great to be involved in a sale of this magnitude and the deal demonstrates the appetite in the Scottish market for well run, profitable practices and small portfolios.
‘There are a number of other groups weighing up options for 2019.
‘We will undoubtedly see further consolidation at the middle to top end of the sector.’
Caledonian Dental Practice was first established on York Place in 1947 and acquired by Dr John Cockburn in 1989.
Dr Mike San joined the practice as a co-partner in 1998, and the pair have organically grown the business since.
The practices are now two of the busiest general dental practices in Scotland, with approximately 40,000 registered patients.
‘We are delighted to welcome John, Mike and the team to Portman,’ Steve Christie of Portman Dental Care said.
‘The outstanding quality at Caledonian Dental Care complements our growing Portman network within Scotland.
‘This is our sixth acquisition in Scotland this year, having acquired our first Scottish practice in March.
‘Thanks to the team at the practice and at Christie & Co for making this a very smooth transaction.’