Private equity firm TriSpan has made a significant investment in Real Good Dental (RGD), a group of dental practices in Scotland, through its Opportunities Fund, with the backing of Keyhaven Capital.
Founded in 2012, RGD is the second-largest dental group in Scotland, treating more than 350,000 patients across 46 practices. Alongside routine dental care, the group also provides aesthetic services under its Westerwood Health brand.
Jagdeep Singh Hans, founder and chief executive of RGD, said: “TriSpan is the perfect fit to help the group achieve its aspirational growth plans. TriSpan has strong credentials both as investors in the healthcare services sector and as backers of founder-led businesses. We look forward to working with the team in this very exciting stage of development for our business.”
Westerwood Health’s head of aesthetics Usman Goheer said: “As part of the Real Good Dental family we, at Westerwood, are very excited about partnering with TriSpan. With their support and expertise, we are looking forward to realising our continued growth potential and expanding our world-class offering into more practices.”
As part of the investment, TriSpan has appointed Peter Keegans as RGD’s executive chairman. Keegans has experience of the UK dental sector, most notably with Oasis and Colosseum Dental where he led multiple private equity-backed exits.
Keegans said: “I am delighted to be partnering with TriSpan, Jagdeep and the RGD team in the next exciting development stage of the group. Dr Hans has created an outstanding platform for growth and, together with TriSpan, will offer our patients a comprehensive range of dental services within their local communities. Furthermore, I look forward to the group continuing to support the future career development of our great founding dentists, clinical professionals and clinic teams.”
TriSpan partners Fady Michel Abouchalache and Joseph-Patrick Dib stated: “We are delighted to partner with Jagdeep who has built a group of significant scale, and which has the potential to grow significantly further both organically and inorganically, offering best in class services to RGD’s patients. We are also delighted to have won the support of Keyhaven Capital as our partner on this journey. We are confident that RGD will continue to go from strength to strength in what remains a very dynamic sector.”
Sasha van de Water, managing partner at Keyhaven commented: “We are excited to be backing TriSpan’s investment in Real Good Dental. TriSpan’s successful track record in the US and the UK in this sector positions them as an obvious partner of choice for this transaction.”
Business property advisor Christie & Co advised on the investment.
Date published: July 6, 2021