Britain’s biggest dental chain sold in multi-million pound deal

Britain’s largest dental chain has been sold in a multi-million pound deal.

Merrill Lynch Global Private Equity has acquired a majority shareholding in Integrated Dental Holdings, founded in 1996 by dentist David Hudaly.

The sum was reported to be £300million.

The US bank is buying its stake from LGV Capital, the private-equity arm of Legal & General, which had bought into the company nearly two years ago.

Since then, the Bolton-based chain has grown into the UK’s biggest provider of NHS dentistry with more than 200 practices and 700 dentists, and looking after more than 1.5million patients every year.

It is understood that Integrated Dental Holdings became the subject of a bidding war with interest from a number of private equity houses including Bridgepoint Capital, Blackstone and Duke Street Capital, which owns rival dental group Oasis.

The deal is expected to generate significant windfalls for chief executive Mr Hudaly and the management team who are rolling over their shares and staying on at the group.

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