Clyde Munro secures £25 million funding boost to expand
Scotland’s largest dental chain, Clyde Munro, has secured additional funding worth £25 million to expand.
Banking and wealth management firm, Investec, has provided the funding to facilitate further growth. Clyde Munro currently has 54 dental practices across Scotland and the team is eyeing up new acquisitions.
Established in 2015 by Jim Hall, the company had just seven practices at the start of the journey. The business now employs more than 200 dentists and 400 other members of staff and provides services for approximately 460,000 patients.
Mr Hall said that the cash injection demonstrates belief in the Scottish dental industry and in the firm itself. The extra funding provides the “firepower required to continue our amazing growth and deliver further on our clearly-stated ambition of becoming Scotland’s local dentist.”
The funding boost contains an ESG ratchet, which lowers interest fees in line with hitting sustainability targets.
Head of growth capital at Investec, Stephen White, said that Investec is pleased to be driving investment in Clyde Munro and added that this particular funding package is special because of the ESG ratchet, which confirms the company’s commitment to sustainable finance.
Mr White said that Clyde Munro will “act as an exemplar for other firms to follow suit in practising sustainable finance.” Investec has now invested a total of £55 million in the Scottish dental giant.
Clyde Munro is looking for new practices to add to its portfolio and has encouraged any dentists or practice owners who want to ease the burden of management to get in touch.
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