Southern Dental owner attempts to sell the chain for the third time

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The owner of one of the UK’s largest NHS dental providers is set to launch a fresh attempt to sell the business for the third time. Dr Madzak Eyrumlu is believed to have enlisted the help of representatives from DC Advisory to help him sell the chain, which he values at around £100 million.

This will be the third attempt at selling Southern Dental, after Dr Eyrumlu pulled out of an auction last year, which was organised in conjunction with Catalyst Corporate Finance. The previous year, the owner pulled out of plans to sell and pursued a refinancing option. There is talk that some parties have valued the company at no more than £70 million, and companies including Haymarket Financial and Endless have already made moves to buy off part of the £65 million debt. It is believed that if the firm was sold for £70 million, the shares would have little value based on the current debt.

News of the sale comes months after Southern Dental’s main rival, Oasis Dental, was acquired by Bupa in a deal worth £835 million.

Southern Dental is based in Crawley, and it currently provides treatment for more than 750,000 patients in the South East of England. It is currently the country’s third largest NHS dental provider.

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