A Manchester-based team from Addleshaw Goddard has advised Practice Plan Group on its acquisition by Wesleyan Assurance Society, for an undisclosed sum. Practice Plan is the leading provider of practice-branded dental membership plans, and Medenta, one of the leading providers of patient finance to UK dental practices.

The Addleshaw Goddard team was led by Corporate Partner Roger Hart, and included Rabia Burton, Cat Concannon, Sophie Cochrane, Paul Harris, Richard Oman and Carly Mather.

Roger Hart said: "We are pleased to have been able to advise Practice Plan Group on this strategic acquisition by Wesleyan which is one of the UK's leading mutuals, and already a leading provider of specialist financial advice and services to dentists. The combination with Practice Plan will strengthen Weslyan's position in the dental market and provide additional opportunities to grow its market share."

Practice Plan was founded in 1995, and has been acquired from Dunedin and shareholders; Practice Plan’s shareholders were advised by Deloitte, and the transaction is subject to regulatory approval. It supports over 2,000 practices and 600,000 individual plan members nationwide.

Wesleyan, whose other core customer markets include doctors, lawyers and teachers, was advised by Fenchurch Advisory Partners.

Wesleyan Assurance Society is a mutual and was founded in 1841. The Wesleyan Group had in excess of £5.2 billion of assets under management as at 31 December 2012.

Craig Errington, Wesleyan’s Chief Executive, said: “The acquisition of Practice Plan is part of a larger strategic growth programme that we are embarking upon over the coming years. Until now we have largely focused on providing personal financial services to dentists. Practice Plan is a strong and successful business and will play an integral role in helping us to grow our commercial offering to dental practices.

“Practice Plan offers a great synergy with the Wesleyan brand; it has an excellent reputation within the dental profession and has built up strong relationships with a large number of dental practices nationwide. We can develop these links further to provide a more comprehensive financial service tailored specifically to this market.”

Wesleyan Chairman Bryan Jackson CBE commented: “Wesleyan is in a position of financial strength and so can grow to the benefit of our customers and members.  Our interests lie in opportunities that will develop our offering for our professional customers. This acquisition is a clear indication of our commitment to be the provider of choice for dental professionals.”

Nick Dilworth, Managing Director of Practice Plan, said: “Practice Plan is pleased to become part of one of the UK’s financially strongest mutuals with a great heritage and a reputation for customer service and product performance.”