Ethos Partners is pleased to announce its strategic partnership with Labyrinth Laboratories Holding Limited, one of the UK’s leading dental laboratory groups. Ethos is supporting the three founders, Michael Coldicott (CEO), Kuldip Bhandal (Sales Director) and Jeffrey Rabone (Lead Technician), who continue in their roles through its next phase of growth. Beechbrook Capital provided the senior debt facilities in support of the partnership. We are collaborating with the founding team to add capital and expertise to accelerate the roll-out of Labyrinth Dental’s scanner proposition to customers, with free scanners and training offered to support best-in-class product and patient care.
With more than 40 years of technical heritage, Labyrinth Dental is the fourth largest full-service dental laboratory in the UK, headquartered in Birmingham. The Group brings together eight specialist laboratories on a single site, providing a well invested centre of excellence to serve more than 2,000 dentists nationwide across the NHS and private sectors with crowns and bridges, dentures, orthodontics, implants and whitening. Labyrinth Dental combines deep technical expertise with a modern, digitally enabled manufacturing platform, operating 24 hours a day with an in-house logistics network that delivers nationwide with industry-leading turnaround times.
Over the last three years, Labyrinth Dental has delivered strong revenue growth, at a compound annual growth rate in excess of 20%, while sustaining market-leading margins. An early adopter of intraoral scanning, CAD/CAM and 3D printing, the Group now receives a growing majority of its cases digitally and has built an exceptional reputation for product quality, responsiveness and service, reflected in outstanding customer satisfaction and advocacy scores.
Labyrinth Dental will be chaired by Zak Smith, who joined the Board in early 2025 to support the Group’s growth strategy. Zak has previously scaled and been involved in the sale of two independent dental chains and brings deep sector experience, strategic insight and an extensive network to the business. Suddy Bharaj has joined as Group Chief Financial Officer.
The investment was led by John Naylor-Leyland, Ben Kirby and Hugo Browne.
John Naylor-Leyland, Partner at Ethos, added: “Labyrinth Dental is an exceptional business with a market-leading reputation for quality, service and innovation in a resilient, growing market. We have been hugely impressed by Michael and the founding team, the loyalty of their customers and the strength of the digital platform they have built. We look forward to partnering with the founders to invest further in technology and people, and to build on Labyrinth Dental’s position as one of the UK’s leading dental laboratories.”
Michael Coldicott, CEO of Labyrinth Dental, said: “We are delighted to be partnering with Ethos. Throughout the investment process, they demonstrated a genuine understanding of our business, our people and our ambitions for the future. Together with my fellow founders, I am excited to continue building Labyrinth Dental, investing in our digital capabilities and technology to deliver an even better service to our customers and their patients.”
Ethos was advised by HMT (Financial), K3 (Tax), HCR (Legals), BDO (Commercial), Confidas People (Management) and Blick Rothenberg (Tax Structuring). Management were advised by Shoosmiths (Legals). Beechbrook Capital provided senior debt facilities.
