Here, Adrian Vasile, who recently purchased a practice in Sheffield, shares his experience of an acquisition transaction.
Which consultant in Dental Elite did you work with?
“I actually worked with two – Katrina Graham for the acquisition process and Josh Lane for finance.”
How was Katrina as an intermediary between yourself, the seller and solicitors?
“Having an agent as an intermediary between myself, my solicitor and the other party and to act on my behalf was very helpful, especially when it came to my solicitor who tried to add on additional charges.”
How was the service from Josh Lane at DE Finance?
“Securing finance was relatively straightforward and Josh was very helpful in talking me through my options – not to mention exceptionally communicative and professional. When the bank manager requested more information, Josh handled everything for me to make sure I got the best deal possible.”
How did you find the CQC changeover process?
“All in all, the process was relatively easy thanks to Katrina’s help and support. With her knowledge and experience, I was able to complete the form accurately and efficiently with no problems or delays. It also helped that she kept in constant contact with me throughout the process and liaised with the CQC inspector on my behalf – she was absolutely brilliant.”
On reflection, what was the most challenging part of your sale?
“For me, it wasn’t the CQC or due diligence that was the most challenging time, but the handing over. For all the preparation, you can never know for sure what you are stepping into when you purchase a practice; in my case it was the inventory that took me by surprise.”
What advice would you give to future buyers?
“If I were being honest, my advice wouldn’t be in regard to the intricacies of the acquisition, but with the nature of buying itself. If you want to buy, dream big, don’t just settle for a smaller practice because it seems more realistic – even if you are a first time buyer. There are plenty of opportunities and the banks seem willing to lend at present so yes, my advice would be to invest in a bigger practice with a bigger contract.”
Why did you choose Dental Elite over others?
“Dental Elite has a good reputation and portfolio – as a buyer, that was important to me.”