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A dental practice operator is on the hunt for suitable businesses to expand its portfolio after securing a multi-million pound funding package.

SpaDental Management, which currently owns 12 practices in joint ventures with dentists, is looking to form 30 more partnerships after receiving £17 million.

The funding round was led by Royal Bank of Scotland, which provided £15 million of debt. The package also included up to £1 million of equity from Hafren Ventures, which was matched in debt by Julian Hodge Bank in Cardiff.

SpaDental will be targeting larger NHS and private dental practices across England and Wales by investing alongside the dentists who will run the business.

Following the fundraising, Hafren’s Arwel Morgan joins Andrew Wall, Chris Hilling, Paul Massey and Steve Cooley on SpaDental’s board.

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