A Bury-based dental business, Filippini & Gray, will be staying in the family as the next generation take control, with support from Yorkshire Bank.
Originally established in 1982 by Silvano Filippini and Ian Gray, the dental lab has manufactured crowns, bridges and implants for dentists across the country.
As the two founders approach retirement, the next generation has stepped up to take over the business.
Thanks to a six-figure funding package from the Bank, Silvano’s son, Marco Filippini and business partner Wayne Jenkins have purchased the family business and taken over as managing partners. The deal was facilitated by Lee Blainey, relationship manager at the Bank’s Business and Private Banking Centre in Manchester.
Marco and Wayne bring considerable experience to their new roles in the business with 25 and 12 years in the industry respectively. The pair plan to invest in fully refurbishing premises while maintaining their already well-known and respected brand.
Technological investment is also a high priority for business under its new owners. With CAD/CAM (computer-aided design and computer-aided manufacturing) technology a key growth area for the firm; enabling it to speed up processes of design and creation.
Marco Filippini, Partner at Filippini & Gray, said: “Taking over the family business is, of course, a huge responsibility but one that Wayne and I are more than happy to shoulder.
“We both have a lot of experience in dentistry, and my dad and Ian have taught us a great deal about how to run a successful business.
“We’re grateful for the support Yorkshire Bank has provided for us to continue our service to the dental industry across the UK. We look forward to continuing our positive relationship with the Bank.”
Sean Williams, Head of Yorkshire Bank’s Manchester Business and Private Banking Centre, said: “Filippini & Gray have been with Yorkshire Bank for over a quarter of a century, so we’ve built up a strong working relationship with the business and the management team.
“It’s great to see the next generation come through to take over the family business and I’m confident that the firm will continue to grow under its new leadership and through continued investment.
“Our specialist knowledge and focused sector approach brings a fresh perspective to the banking market. Through a range of support measures, our firm commitment is to provide small and medium sized businesses the speed and flexibility needed to fulfil their growth ambitions.”
Clydesdale and Yorkshire Banks has strengthened its support for UK SMEs by becoming the first to partner with the British Business Bank under its ENABLE Guarantees scheme. Up to £125m of new lending by Clydesdale and Yorkshire Banks will help more small businesses achieve their growth ambitions.