Growing North East dental group Queensway has been acquired by national healthcare company Dentex in an undisclosed deal.
Queensway Group, which has its head office in Billingham and other main practices in Newcastle, Yarm and Darlington, has formed a partnership with London’s Dentex, following a search for a strategic investment partner to accelerate the growth of the business. The landmark transaction is believed to be the largest independent dental business deal in the 海角视频 in recent years, aided by specialist business property adviser, Christie & Co.
Queensway Group has expanded and grown since being founded in 1994 when Paul Averley, a graduate dentist from Newcastle University, set up his first practice in Billingham. Since then, he has partnered with fellow professionals Guy Deeming, Richard Elliott, Ian Lane, Paul Howlett, William Carter, Uzma Olbrich, Rob Banks, and Matthew Garnett.
Read more: US tech firm Ezoic moves head office into Newcastle city centre
Read more: Newcastle business improvement district NE1 bids for five more years
The brand now has 40 surgeries in eight locations across the North East, carrying out everything from private dental and skin services, private and NHS specialist oral surgery to orthodontics and a digital laboratory. The group's partners have been keen to team up with an investment partner to accelerate the firm’s growth and help expand the group’s footprint, capabilities, and services to patients, clinicians and colleagues.
Mr Averley, managing partner at Queensway Group, said: “We are delighted to be entering into partnership with Dentex and look forward to this new and exciting chapter in the life of Queensway Dental. Working with Dentex will secure the future and longevity of the Queensway brand and will provide stability for our amazing team and wonderful patients. This business relationship will create some excellent opportunities for the Queensway business and our people, and enable us to grow and develop, whilst continuing to provide high standards of clinical care for our patients.”
Oliver Snowden, director of partnerships and acquisitions at Dentex, said: “In my 10-plus years in the dental sector, I have seen a number of successful independent dental groups, but the Queensway partnership is something truly unique. The vision of the owners to build such a diverse and forward-thinking business is remarkable.
Most Read
“It was clear from our first meeting that the business has a ‘patient first’ approach to dentistry and a culture that allows its clinicians and colleagues to thrive in a state-of-the-art setting. After a competitive sales process led expertly by the Christie & Co team, I was delighted that the Queensway partners chose to partner with Dentex. We now look forward to getting to know the wider team and supporting the business with its exciting growth plans.”
Paul Graham, head of dental at Christie & Co, added: “Dentistry is currently one of the post-pandemic growth sectors, and so, when we launched the sale process, we knew lots of interest would prevail – between private equity houses and existing trade buyers, we had upwards of 30 parties vying for the opportunity.
“The landscape then suddenly changed with the 海角视频 having to deal with the economic and geopolitical challenges that were orbiting. However, testament to the strength of Queensway, the competitive and strategic process that we conducted, and of course with Dentex as their new partner, the outcome delivered did not faulter. This landmark transaction contradicts some of the negative rhetoric around M&A activity in the sector and underpins the strength and resilience of the 海角视频 dental market, with demand still strong for quality dental businesses which are accurately priced.”
The Queensway partners were advised by Inspire Financial Management, and Knights plc as legal advisors. Dentex was advised by PwC and legal advisors, Charles Russell Speechlys.