Multimillion-pound bid ‘imminent’ for dentistry group
A £700m approach is imminent for a Greater Manchester dental group.
IDH Group, based in Kearsley, near Bolton, is said to be the target of London-based family-owned cash and carry conglomerate Bestway.
IDH Group operates approximately 600 practices around the UK.
Bestway is, reportedly, one of two remaining bidders, according to Sky News.
Bridgepoint, a private equity firm which previously owned dentistry business Oasis, is also believed to have indicated it could offer more than £700m for IDH.
An acquisition by Bestway would increase its health sector interests.
The Choudrey family behind the Bestway business acquired Manchester-based The Co-operative Group’s pharmacy business for £620m in 2014.
More recently, generally, it closed a deal to buy the Costcutter retail chain last month from Liverpool-based The Bibby Line Group for an undisclosed sum.
IDH Group is currently owned by Carlyle and Palamon Capital Partners, which is expected to decide on a preferred bidder in the coming weeks.