A Monmouthshire-based business dealing in the supply of dental, veterinary and medical equipment is looking ahead at future opportunities after purchasing its 6,000sq ft premises.
In mid-2024, Dentalex moved to property on Wonastow Road Industrial Estate on a rent-to-buy agreement. Thanks to a £500,000 loan from the Development Bank of Wales, via the Wales Flexible Investment Fund, the business was able to buy the property when it became available on the market, and Dentalex is now looking forward to new routes to expansion.
Dentalex imports, sells and services equipment for use in human and animal health disciplines. It is the sole UK agent of Midmark-branded products, and is mainly involved in the supply of autoclaves, which are used to sterilise surgical instruments used in treatment.
The business formerly operated out of a rented site on Singleton Court Business Park since starting in 2003, but with more than two decades of continued growth, owners were keen to find new premises where they could expand into new areas.
Current plans for new arms to the business include creating an education and training centre for veterinary dentistry, and Dentalex manufacturing its own equipment in-house – as well as looking ahead to routes to decarbonisation.
Dennis Sproul, Director at Dentalex, said: “Having our own premises really helps our growth plans. This new space offers us massive room for expansion, and buying the building means we won’t be subject to any potential increases in rent. Opportunities to buy commercial property at this size don’t come up very often in Monmouthshire, so we wanted to take advantage of it as soon as it came up.
“We’re also keen to progress on our journey towards becoming carbon-neutral. Our earlier premises at Singleton Court were nearly entirely energy neutral, but having our own premises means we can look at things like solar panels, ground and air-source heat pumps, battery storage and exporting our surplus energy to community or the grid.”
He added: “I was really impressed when working with employees at the Development Bank of Wales. This is the first time we’ve ever taken an external investment from anyone. Us buying the building without external support would have been challenging with high street banks, so this has allowed us to take advantage of a golden opportunity to expand. We don’t think this is the end of our journey with the Development Bank.”
Kelly Freeman and Arushi Jolly, both investment executive at the Development Bank, worked on the loan.
They said: “Dentalex provide a vital link in the medical, veterinary and dental sectors across the UK, and their expansion into training and manufacturing represents a fantastic step in their growth journey as a business. We’re pleased that our loan has supported them in taking that step, and look forward to staying in touch as they continue to develop.”
Financed by Welsh Government, the Wales Flexible Investment Fund is for deals between £25,000 and £10 million. Loans, mezzanine finance, and equity investments are available for Welsh businesses with terms of up to 15 years.
