The value of a business is often difficult to quantify, especially when you’ve put years of hard work into building it into something special. Someone who understands this deeply is Matt Arthur of Mayfield Practice Sales. He’s spent years building up a reputation as one of the UK’s most influential CEOs. We took a closer look at the business to see how he has been able to achieve such success.
Mayfield Practice Sales is a dental brokerage specialising in selling dental practices and groups. The teamwork alongside clients who are either looking to sell their business now or are starting to plan their exit in several years’ time. As a business, Mayfield specialises in practice valuations, financial health checks, financial due diligence and preparing for future sale.
It’s not an easy experience to add value to a business while preparing to let it go, and under Mr. Arthur’s leadership, the team have made the decision to position themselves as more of a partner than a consultant. He started the busines because he was fed up at seeing so many deals fall through, with such variable service from brokers. For many, there wasn’t enough attention paid into the intricacies of a business, which caused problems at the due diligence phase of buy.
The approach of Mayfield has always been to ensure that this doesn’t happen. Care and attention is taken to understand the business, and from this information, the team work to negotiate the best possible deal. Clients trust their advice, not only because it is personable and candid, but because the Mayfield team are always on hand. They take the time to get to know both the business and the owner so that everyone involved is satisfied with the end result.
The team is deliberately small, comprising over 30 years’ experience in dental finance and accountancy. What sets Mayfield apart is the team’s careers working in mergers and acquisitions on the other side of the deal, advising some of the largest dental corporates. They know exactly what these organisations are looking for as well as how to avoid pitfalls, how to ensure deals don’t fall through and how to eliminate the need for lengthy and costly renegotiations.
Because Mr. Arthur and his team serve clients that have successful, high-end practices and who have built their business with blood sweat and tears, it is important they get the return they deserve. The financial background that the team bring to each case is second-to-none, ensuring accurate valuations and hastening the process of selling a practice as a result. As the majority must work for a period post-completion, it is paramount that they also feel comfortable with the incoming buyer and can retain their reputation too. Mayfield have proven experienced in the negotiation of renumeration packages that everyone is happy with.
The COVID-19 pandemic brought new and unique challenges, including uncertainty in the value of practices. While private practices received very little government support, they were often able to open up before NHS sites, provided they were COVID-secure. Those who have needed urgent treatment have turned to these suppliers and are likely to stay with them, creating record levels of monthly revenue. Currently, there is high demand, with a market that is particularly hot.
The value of a good broker is not to be ignored, and Mayfield are one of the best. Thanks to the care and attention that Mr. Arthur has put into building up his business, he has been able to build others to even higher standards. Their success is something to be celebrated, both now and into the future.
