In this exclusive interview, dentist Azfar Hyder shares his five-year journey with Buxton Coates to complete a non-standard, staged, and co-operative mini dental group sale to a private equity entity.
When did you first enlist the services of Buxton Coates (previously FTA Law)?
That was approximately four and a half years ago, when I was looking to sell my mini corporate comprising 13 practices in stages to a private equity firm.
How did that relationship with Buxton Coates develop?
I initially came across the firm in Spain at a networking event, when I met Tom Coates, the managing director. We got chatting and he gave me his details ‘in case’.
So, when I wanted to go ahead with my asset sale of The Burgess & Hyder Dental Group, I contacted him, and he and his team proved themselves to have a critical eye, understand the intricacies of dentistry and the relevant legalities, complemented with efficiency and being approachable. There were some particular intricacies to the deal that required a level of commercialism and foresight that went beyond purely advising on ‘the law’ and Tom’s ability to provide counsel on such matters has been a valuable resource over the years.
What other services of theirs have you used in that time?
Once the initial, contractual disposition of my business was Completed in 2019, Buxton Coates involvement with me changed to more of an advisory role. I’ve used them as legal counsel over the years in my professional capacity and I speak to Tom on a regular basis as a sounding board on a variety of business and commercial matters.
Following Completion in 2019, there have been variations to the original deal, as it was a staged disposition, and it is only in the last six months that all matters have finally been tied up.
Buxton Coates have been part of that process from beginning to end, nearly five years in the making. They have given me legal advice and supported me when it came to some important commercial decision-making. They haven’t always been easy decisions and it’s understandable that negotiations on a deal of this size were at times robust, but the decisions I ultimately made under Tom’s guidance have turned out to be the right ones for me.
This was not your usual sale of a dental practice. It was complex and required a similarly complex contract, covering my gradual sale and ensuring both parties got a fair and watertight deal. Tom looked at it all with a critical eye and was upfront with me about the pros and cons of the deal, all of which in hindsight has turned out to be sage advice.
Obviously the sale of a group of 13 dental practices also involves dealing with the legalities of 13 separate properties and Tom works alongside an excellent commercial property team who dealt with all aspects of the leases and freeholds on each site simultaneously with the work being done by Tom and his team on the corporate side.
Now that it is all over, I can confidently say that Buxton Coates, as experts in the field, were able to give me great advice and protect my interests, both at the time and with an eye to future implications.
I have also used them personally, for sales and acquisitions of various properties for commercial and investment opportunities.
What’s next for you and what role do you see Buxton Coates playing in the future?
I’m still practising dentistry and enjoy working in primary care. I look forward to new challenges and opportunities, knowing that I have Buxton Coates behind me for legal advice and commercial decision-making when needed.
To celebrate the launch of Buxton Coates Solicitors, a full-service, independent law firm providing bespoke legal services for dental professionals, their team of experts is offering 10 hours of free HR and employment advice to dental practices on 10th October 2023 to help offset the ongoing challenges increasingly being faced by the sector.
To claim your free 30 minutes of advice, please email [email protected] and disclose the issue you would like to discuss on 10th October – a true 10 out of 10 service to get you started!
