Gold Cup winner eyes £300m dental chain sale

Gold Cup winner eyes £300m dental chain sale

Sam Waley-Cohen, the novice jockey who shocked the horseracing world by successful the Cheltenham Gold Cup seven years in the past, is getting ready for an excellent higher outcome from the sale of the dental chain he runs.

Sky Information has learnt that Portman Dental Care, the corporate arrange by Mr Waley-Cohen in 2009, is in talks with plenty of commerce and personal fairness bidders a few takeover which may worth it at greater than £300m.

The part-time soar jockey, whose Cheltenham victory got here on Lengthy Run, stays an enormous shareholder in Portman, having bought a stake in it to Livingbridge, a buyout agency, in 2014.
The enterprise now trades from roughly 60 practices throughout the UK and is known to have grown its income considerably since its final accounts have been filed at Corporations Home for the yr to September 2016.
Mr Waley-Cohen was as a result of journey Stroll In The Mill in Saturday’s Grand Nationwide however the horse was declared a non-runner after it was discovered to be lame.

The proposed sale of Portman follows Bupa’s takeover of the a lot bigger chain Oasis in an £835m deal in February final yr.
A string of takeovers led by non-public fairness corporations comparable to Nordic Capital within the European dental market have led to the creation of a cluster of large-scale operators within the sector.

One other huge participant within the UK market is MyDentist, which is backed by the non-public fairness group Carlyle and has about 450 practices.
The worth paid by Bupa for Oasis stunned analysts, who had pencilled in a a lot decrease valuation for the enterprise.
Sources stated that it had fuelled hopes at Portman that it may additionally appeal to a premium value.
The public sale of Portman, which didn’t reply to requests for remark, is being run by Moelis, the funding financial institution.

Livingbridge stated in a press release issued to Sky Information: “We don’t touch upon market hearsay and hypothesis.
“Portman Dental Care is the fastest-growing privately led dental group within the UK and is nicely positioned to construct on the robust momentum it has generated lately.”

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