Member Article

North East dentistry duo to merge four of the region’s practices

Two North East dentists have come together to arrange a management buyout and merger of four of the region’s dental practices.

Northumberland-based Iain Morrison and Paul Shenfine of Morrison Shenfine Holdings, acquired three new practices; Newgate Dental Solutions in Morpeth, Darras Dental in Ponteland and Langley Park Dental in Durham, to add to their existing practice, Wessington Dental on Sunderland’s Hylton Park Road.

All current staff have been maintained as a result of the buyout, meaning the total number of people employed by the company currently sits at 50.

With more than 35 years’ combined experience in dentistry, the directors hope to use their expertise to continue to grow Morrison Shenfine with further acquisitions to provide a consistent, top class dental service to communities in the North East.

Iain Morrison, Managing Director, said: “The firm’s management buyout has enabled us to take up the running of three new practices, causing minimal disruption and allowing services to the communities affected, to continue as normal.

“We pride ourselves in providing excellent customer service and this is the driving force behind the business. Yorkshire Bank recognises our ambitions and has played a significant role in facilitating growth within the company.”

The acquisition was made possible by a seven figure support package from Yorkshire Bank. The deal was delivered by Daryl Peart, Associate Director, Ian Stephenson, Senior Director and Gail Fielding Healthcare Director for Yorkshire Bank.

Daryl Peart, associate director for the Bank’s specialist and acquisition finance team in Newcastle, said: “Iain and Paul are well known dentists in their local communities and we are proud to have provided our support to assist them grow their portfolio of practices.

“We have no doubt they will continue to take the company from strength-to-strength, bringing in new customers and retaining the skills and experience of their current team.

“Yorkshire Bank remains focused on supporting the growth ambitions of businesses in the North East.”