Portman Dental Care acquires Scotland’s largest dental practiceNews
Posted by: The Probe 19th November 2018
Specialist business property adviser, Christie & Co has brokered the sale of Caledonian Dental Care, a privately-owned business comprising two large practices with a total of 19 surgeries, in Perth, Scotland.
Caledonian Dental Practice was first established on York Place in 1947 and acquired by Dr John Cockburn in 1989. Dr Mike San joined the practice as a co-partner in 1998, and the pair have organically grown the business together for over 20 years. In 2009, the development of a modern purpose-built practice with eight surgeries on Kinnoull Causeway brought Caledonian Dental Care to a total of 19 surgeries. The practices are now two of the busiest general dental practices in Scotland, with approximately 40,000 registered patients.
Mike San and John Cockburn comment, “We would both like to thank Paul for guiding and supporting us through the whole sale process, and we are looking forward to working with Portman Dental to continue to provide our local community with excellent dental care.”
Steve Christie of Portman Dental Care comments, “We are delighted to welcome John, Mike and the team to Portman. The outstanding quality at Caledonian Dental Care compliments our growing Portman network within Scotland. This is our sixth acquisition in Scotland this year, having acquired our first Scottish practice in March. Thanks to the team at the practice and at Christie & Co for making this a very smooth transaction.”
Paul Graham, Director at Christie & Co handled the sale and comments, “We were approached by Mike and John to value their business, position it for sale, negotiate terms and project manage the transaction. We ran a confidential marketing process to key operators in the UK dental market, and following significant interest and multiple bids being received, the business was successfully sold to Portman Dental Care.
“Mike and John have done an incredible job building their practice into the sizeable, thriving operation it is today, and is at the heart of its community. It was great to be involved in a sale of this magnitude and the deal demonstrates the appetite in the Scottish market for well run, profitable practices and small portfolios. There are a number of other groups weighing up options for 2019 and we will undoubtedly see further consolidation at the middle to top end of the sector.”
Caledonian Dental Care sold for an undisclosed sum in excess of the asking price.