A dental group that has practices across Tayside and Fife has been given a £25 million cash injection.
Clyde Munro Dental Group, the largest dental group in Scotland, has been awarded the money by Investec.
It will allow the firm, which took over Dental Care Perth last year, to embark on a further period of growth.
Since it was created in 2015, founder Jim Hall has steered Clyde Munro from seven practices to 54 across Scotland.
It has dental surgeries in Dundee, Kirkcaldy and Dollar.
The group has more than 200 dentists, 400 staff and 460,000 patients.
Funding shows faith in dental industry
Mr Hall said the funding shows the faith in the Scottish dental sector from the group and its investor.
He added: “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.”
Mr Hall said the firm is committed to investing across Tayside and Fife.
“Clyde Munro is looking to invest heavily in the region,” he said.
“Not only is it aiming to support the dental practices and the current employees, but the group also wants to create new jobs and grow the dental sector within Tayside and Fife.
“Clyde Munro is committed to both private and NHS dentistry and invests in state of the art digital equipment for each of its practices.
“This enables us to create more job opportunities, as well as growing and developing the current dentists and practice teams at each practice.”
Investec’s head of origination, growth capital Stephen White said the firm was “proud” to support the dental group’s continued growth.
He said: “This funding is not only an investment in Clyde Munro, but a major boost for Scotland’s dental sector.
“Clyde Munro is a business with a clear vision and we are incredibly proud to further support it as it continues to invest in its dentists, patients and individual practices.”
Investec’s backing has been vital to the growth that sees Clyde Munro practices spanning locations from Orkney to the Borders.
It takes the total committed by Investec to £55m.
Clyde Munro’s plans for net zero
The investment also includes a environmental, social and governance (ESG) ratchet.
It is also only the second time the bank has deployed its ESG-related margin ratchet.
Targets are based on Clyde Munro’s ambitious ESG strategy, which includes six designated ‘eco-champion’ practices.
It also includes a dedicated dental waste recycling programme.
The business also aims to rely fully on digital scanning and remove the need for multiple plastic trays and impression moulds.
Mr Hall said the group aims to become net zero by 2030.
The Glasgow-based firm aims to become Scotland’s “local dentist”, operating an expanding network of family dentists across Scotland.
