Investec boosts Clyde Munro’s deals war chest
Clyde Munro Dental Group has seen its acquisitions war chest boosted by further £25 million from international banking and wealth management firm Investec.
Already Scotland’s biggest independent dental group, the firm will now seek out more targets to build on its 54 practices with 460,000 patients.
Since it was created in 2015, founder Jim Hall has pursued an aggressive growth policy fuelled by acquisition and sees the new funding as a means to step up his strategy.
“Investec has bought into our vision from the outset. This new cash injection affirms that ourselves, our shareholders and our bank have a huge commitment to, and belief in, the Scottish dental sector.
“It also gives us the firepower required to continue our amazing growth and deliver further on our clearly-stated ambition of becoming Scotland’s local dentist.”
The innovative funding package also includes an “ESG ratchet” which will reduce interest repayments on the funding as Clyde Munro achieves its sustainability performance targets.
Stephen White, head of origination, growth capital at Investec, said: “This funding is not only an investment in Clyde Munro, but a major boost for Scotland’s dental sector.
“The ESG ratchet supports our commitment to sustainable finance.”