Optimum Dental to spearhead acquisition using £950k fund
A Manchester-based dental firm will go ahead with acquisition plans after raising a £950,000 invoice finance facility from Positive Cashflow Finance.
Optimum Dental Group, a nationwide group of DAMAS accredited dental labs, will be able to acquire the assets and business of 1st Dental Products Ltd, which turned over an excess of £6m in 2012.
Funding from Positive will provide the business with the necessary working capital for its existing and future operations throughout the expansion strategy.
Simon Ashton, Optimum’s chairman said: “To support our plans, we needed a partner who understood the potential of our business.
“Positive took the time to understand that potential and worked with us to find a solution that met both our immediate needs and future plans.
“This gave us the confidence we needed to move forward with them and are now looking forward to developing Optimum’s business together.”
Sales & marketing director at Positive, Phil Chesham, added: “We are delighted to be working with Optimum to support it through such an interesting stage of its development.
“The working capital that we can provide will help the company achieve its true growth potential and reinforce its ambition to become the leading British network of dental laboratories.”
Positive Cashflow Finance has offices in Manchester, Birmingham and Basingstoke, and offers fund facilities of between £10,000 and £1million.