Already Scotland’s biggest independent dental group, the firm will now embark on a period of further growth through acquisition, with the additional funding package from international banking and wealth management firm, Investec.

Since it was created in 2015, founder Jim Hall has steered Clyde Munro from seven practices to 54 across Scotland, with more than 200 dentists, 400 staff and 460,000 patients.

He said: “Investec has bought into our vision from the outset. This new cash injection affirms that ourselves, our shareholders and our bank have a huge commitment to, and belief in, the Scottish dental sector.

“It also gives us the firepower required to continue our amazing growth and deliver further on our clearly-stated ambition of becoming Scotland’s local dentist.”

The innovative funding package also includes an “ESG ratchet” which will reduce interest repayments on the funding as Clyde Munro achieves its sustainability performance targets.

Stephen White, head of origination, growth capital at Investec, said: “This funding is not only an investment in Clyde Munro, but a major boost for Scotland’s dental sector.

“We are particularly delighted with this transaction as the ESG ratchet supports our commitment to sustainable finance and are in no doubt that Clyde Munro will act as an exemplar for other firms to follow suit in practicing sustainable business.

“Clyde Munro is a business with a clear vision and we are incredibly proud to further support it as it continues to invest in its dentists, patients and individual practices.”

Investec’s backing has been vital to the growth that sees Clyde Munro practices spanning locations from Orkney to the Borders. It takes the total committed by Investec to £55m.