The right buyer makes all the difference

  Posted by: Dental Design      17th August 2021

Photo by @RezaKio

Dr Shameek Popat reflects on his experience of selling a dental clinic to Colosseum Dental UK:

The decision to sell Rosebank Dental Practice was a hard one. It was like letting go of a child who is grown up after 19 years of nurturing. However, the time had come and I wanted to rebalance my life. I still loved dentistry and wanted to continue practising, but no longer wanted the constant responsibility and pressure of running my own business. As a principal, anything from staff absence to replacing a lightbulb and everything in between is your responsibility. I wished to focus once again on doing what I do best and then go home without any further worries. A few of my peers had sold their private practices and speaking to them made me realise that I could do so too. It would allow me to cut back on my working hours so I could spend actual quality time with the family, without the practice always being at the back of my mind.

It was important to me that I find the right fit in a buyer for my practice. Having spent 19 years building it, I was not prepared to sell to someone without knowing that it would be looked after.

I chose to sell to Colosseum Dental UK for a number of reasons. Mainly, it was meeting and speaking with the M&A team, and I liked them immediately. Going through the process, I realised just how important it is to like who you are selling to. The team at Colosseum Dental gave me the confidence and reassurance that Rosebank would not change in philosophy or personality, or in what it represented to our patients. Through the process I met other members of the Colosseum Dental team and they were also extremely approachable, patient and helpful. Everyone understood why I wanted to sell.

Thereafter, I received a fair and reasonable offer and worked through some amicable negotiations. I felt that both parties could be honest and were accommodating in order to reach a mutually-agreed settlement. I never felt under pressure. In the end, I received a few good offers to choose from, but felt that Colosseum Dental was the perfect fit for me.

As is expected when any practice changes ownership, the integration process was not easy for my team and me. It required a real paradigm shift in my mentality of not being the boss. Charlotte Low (Head of Integration) and her integration team were fantastic, making sure we were as comfortable as possible at all times. My team always understood and supported the sale – they are like my work family, and once I explained to them that I needed to step back, they were all routing for a successful sale too. However, they were anxious about the change. Once they met Charlotte, they felt more reassured. The introduction of a new practice manager and the recruitment of Naima Adem to the team was a god send. As soon as the team realised Naima would be their point of contact following the integration phase, everything started falling into place.

For other principals considering their own practice sale, I think it’s important to have a good team helping you through the process. Our agents and lawyers were a great help for our sale. It is a stressful process, but getting one thing done at a time and without too many time pressures can be hugely beneficial.

I would not hesitate to recommend Colosseum Dental to my peers. Any concerns when selling were resolved with a team that constantly provided cooperation, respect and honesty. Any potential issues to arise regarding branding, for example, during the integration phase, were also resolved quickly and efficiently through open and honest conversations. It can be a tricky process, but if you find the right buyer, it’s worth it in the end.

As an organisation we have always been and remain committed to working with vendors and their teams to ensure as smooth a transition as possible. For a confidential, no obligation conversation, please contact Simon Taylor (M&A Director) at Simon.Taylor@colosseumdental.co.uk or on 07921 876836.

For more information about Colosseum Dental, please visit www.colosseumdental.co.uk/sell-your-practice