Clyde Munro secures £10m in funding to support expansion
The dental group Clyde Munro has secured a £10m funding package from Investec, the corporate investment bank.
Clyde Munro now has 47 practices, 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.
Stephen White, a director at Investec, said: “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, added: “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. 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”.