THE sale of a Glasgow dental clinic has come amid "strong buyer appetite" in a competitive city market, an expert has said.
City brothers Ryan and Dean Shum have embarked on the first-time buyer purchase of the 1Smile Dental Clinic following a confidential sales process and they said they plan to invest in the refurbishment of the premises.
Christie & Co handled the sale of the mixed-income dental practice which has a full range of dentistry services including cosmetic, restorative and implants, and said it has a prominent trading location on Renfield Street, with Central Station a few minutes’ walk from the practice.
Ryan Shum said: “Glasgow has been our home all our lives, we both went to school on Sauchiehall Street and studied at the University of Glasgow. So 1Smile presents a great opportunity for us to provide high-quality dentistry in the perfect location.
"We have exciting plans to revamp the practice brand and push the practice to its full potential, with cosmetic dentistry becoming a strong focus along with investment in digital technology.”
Joel Mannix, senior business agent at Christie & Co, who handled the sale, noted that the dental market has been active. Mr Mannix said: “A real focus for us is matching sellers with buyers who we know will treasure the business and I’m delighted to have brought together this pairing as I’m sure that Ryan and Dean will take the business from strength to strength. The brothers are well qualified and have similar views and ethos and are prepared to roll up their sleeves and get hands-on at the practice.
“The practice has good reputation and benefits from a fantastic central Glasgow location with plenty of footfall. With strong buyer appetite and some fantastic stock, such as this, coming to the market at the moment, the Glasgow dental market is very competitive.”
1Smile Dental Clinic was sold for an undisclosed price.
In February, Storm Dental in Dreghorn, North Ayrshire, was sold to a large Scottish dental group, also sold for an undisclosed sum.
Also last month, family-owned Meadowbank Dental Practice in Edinburgh was sold to Dentex, one of the largest dental corporates in the UK, with a partnership offering.
Earlier this year, Clyde Munro Dental Group, owner of a string of dental practices across Scotland secured an additional £25 million for further acquisitions.
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