Funding from investor Investec sets Clyde Munro Dental Group on their path to becoming Scotland’s ‘local dentist.’

A Scottish dental group has received £25M in funding to expand their business.  Clyde Munro is already the largest independent dental group in Scotland, and now, with the funding package provided by the international banking and wealth management firm, Investec, the group will grow further.

Since its establishment in 2015, Clyde Munro’s founder Jim Hall has expanded the group’s seven practices to 54, comprising of more than 200 dentists, 400 staff, and 460,000 patients.

Mr Hall stated that Investec “has bought into our vision from the outset. This new cash injection affirms that ourselves, our shareholders and our bank have a huge commitment to, and belief in, the Scottish dental sector.”

An ‘ESG ratchet’ has been included in the funding package which will reduce interest rates on the funding while Clyde Munro works to accomplish its sustainability goals.

Clyde Munro’s ESG strategy involves six ‘eco-champion’ practices, a dental waste recycling programme, and a paperless initiative which will save over 40,000 paper forms every month.  The group also aims to be ‘impression free in 23,’ relying completely on digital scanning and making the need for multiple plastic trays and impression moulds obsolete.

“We are particularly delighted with this transaction as the ESG ratchet supports our commitment to sustainable finance and are in no doubt that Clyde Munro will act as an exemplar for other firms to follow suit in practicing sustainable business,” said Stephen White, Head of Origination, Growth Capital at Investec.

With this investment, the total funding pledged by Investec comes to £55M.  Investec’s support has been pivotal in Clyde Munro’s growth and has allowed the group to open practices in locations from Orkney to the Borders.

Clyde Munro’s ambition is to become Scotland’s ‘local dentist,’ running an expanding network of family dentists across Scotland.