£7 million cash injection for dental chain
James Hull Associates (JHA) today announced the next stage of its development with the injection of £7 million by AXA Private Equity, one of Europe’s leading diversified private equity firms.
This new funding will allow JHA to progress with its growth programme, concentrating on delivering an exceptional service to its patients.
The investment from AXA Private Equity is part of a financial restructuring of JHA’s immediate holding company and has the full support of the company’s banks. AXA Private Equity becomes the majority shareholder in the business.
Robin Pugh, chief executive of James Hull Associates, said: ‘Since joining the group a year ago, I have seen the need to work closer with both our staff and clinicians to improve how our patients are looked after from the moment they seek an appointment until completion of the treatment. I want our patients to want to return to their dentist time and again! Today’s announcement gives me confidence we can do this.’
Olivier Berment, Managing Director of AXA Private Equity’s Mezzanine Team, said: ‘Today’s additional investment provides a new impetus for the growth of what we see as a business with excellent potential. Now, JHA has strong operational management and progressive development plans. We see our part in the restructuring of the equity and capital structure of the holding company as the next phase in our partnership with the management team and the appropriate level of support to better ensure the growth of the business.’