UK mid-market buy-and-build specialist August Equity has backed new and existing management at Genesis Dental Care to create Dental Partners, a new dental group with ambitions to become the UK’s third largest NHS and private dental group.
Genesis Dental Care operates 10 practices in Derbyshire, Nottinghamshire, Yorkshire and Lincolnshire offering private and NHS dental treatment. The business was set up in 2004 to provide high quality NHS and affordable dentistry to local communities. The directors of Genesis have a combined 60 years’ experience in practicing dentistry, teaching in dental schools and offering vocational dental training.
August will work closely with management to continue to build the business through acquisitions, new practice openings and the expansion of existing practices while looking to build on the business’s reputation for providing high quality dental treatment and supporting and developing its cohesive team of clinicians.
Dental Partners will be led by incoming Chief Executive Neil Lloyd, a seasoned CEO with a track record for developing business operations and maximising quality of service and customer satisfaction. Neil previously served as CEO of NHS Professionals, the leading provider of flexible worker services to the NHS with a staff bank of more than 50,000 nurses, doctors and other healthcare professionals. Other of his previous roles include CEO of delivery firm Yodel and Chief Operating Officer of the UK division of facilities management firm ISS.
Christian Dubé at August Equity said, “Now is an exciting time for the dentistry sector given the drive to extend access to dental care and improve oral hygiene. Genesis has a strong clinician-led reputation in the sector with an understanding of how to ensure patient outcomes and choice are given the greatest priority. We look forward to working with Neil and the management team to continue Dental Partners’s expansion with an aim to becoming the UK’s third largest NHS and private dental group.”
August Equity Managing Partner Philip Rattle said, “Dental Partners represents an exciting first investment for fund IV which hit its final close in April 2017. The success of our businesses like Dental Partners is predicated on the strength and commitment of our management teams to building market-leading businesses.”
The investment was led by Christian Dubé and David Lonsdale at August Equity with support from James Bakewell and Kate Cook.
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The UK dentistry sector is made up of more than 12,000 practices with a total market size of £7 billion. The sector has seen significant growth in recent years due to an ageing demographic taking greater responsibility for personal health and wellbeing, combined with the increasing recognition of the benefits of good oral hygiene.