Dunedin achieves 2.8x return on Practice Plan exit

Under Dunedin's ownership, the company increased collected membership fees to more than £80m per year.

Wesleyan provides financial advice and products to professional groups, namely GPs, hospital doctors, dentists, teachers and lawyers.

Previous investment
Dunedin first invested in Practice Plan in 2005. The private equity house supported the company's acquisitions of UK dental plan provider Isoplan as well as Medenta, which specialises in dental patient finance, in October 2011. Dunedin also supported the company's expansion into the Australian market.

Dunedin introduced Tony Lochery as chairman, Nick Dilworth as managing director, and added a new financial director, COO and IT director.

Company
Established in 1995 and based in Shropshire, Practice Plan provides practice-branded dental membership plans. Furthermore, the group aids its members, made up of dental practices, by offering marketing and consultancy support. The group employs 80 staff.

People
Oliver Bevan, investment director at Dunedin, sat on the company's board. Nick Dilworth is managing director of Practice Plan.

Advisers
Vendors – Deloitte (Corporate finance); Addleshaw Goddard, Roger Hart (Legal); Grant Thornton (Tax).
Equity – Fenchurch Advisory Partners (Corporate finance); Pinsent Masons (Legal).

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• UK / Ireland
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• Dunedin
• United Kingdom