All smiles as dental business sold to private healthcare provider
A West Yorkshire-based dental business has been sold on a leasehold basis off an asking price of £7,750,000.
The mixed practices of Shaw & Associated Dental Surgeons are located across two settings in Huddersfield and Halifax, with each practice benefiting from a significant NHS income stream.
The sale was completed by specialist business property advisor, Christie & Co.
The Huddersfield site is a traditional dental practice on the outskirts of the town centre. The three-storey building on a busy high street comprises five dental surgeries across three floors.
The second practice is near Halifax and is part of a medical complex alongside a GP surgery and pharmacy, with a large car park to the rear. The practice currently comprises three well-fitted dental surgeries with an opportunity for the new owner to expand to the first floor.
The two practices were acquired in 2013 by Shaw & Associates Principal, Dr Giles Ratcliffe. Having built up the business over the past few years, Dr Ratcliffe decided to retire from practice ownership. The business has been bought by Bupa Dental Care, as part of its continued ambitious growth plans across the UK.
Dr Ratcliffe said: “It was great working with Jonathan Watson at Christie & Co and David McEwan from Schofield Sweeney Solicitors.
“Working through a practice sale can be stressful at times for somebody not used to the process; but I never for a second, felt unsupported or more than a phone call away from a wealth of expertise and experience.”
Jonathan Watson, director at Christie & Co who handled the sale, said: “It was a genuine pleasure to work with Giles, who we have been advising for a number of years.
“I am delighted that he and his family have been able to achieve a landmark deal to reward their hard work and dedication to their practices. It took a real team effort between all parties involved to conclude a deal of this size in just three months.
“The group generated significant interest and multiple offers from a number of key players in the dental arena. With an asking price of more than 300% of turnover, this emphatically demonstrates the strength of the market for profitable dental practices and group sales across the North and beyond.”
David McEwan, from Schofield Sweeney Solicitors, acted on behalf of the sellers. He said: “It was a joy to work with Giles and Jonathan on this deal who worked extremely hard to achieve a fantastic result for all involved.
“I have worked with Christie & Co on a number of transactions and they bring the same professionalism and integrity to its brokerage service as they do to its highly respected RICS valuation business.”
