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Daisy Sale Rumour Emerges

Rumour

According to a recent report on Sky News, Daisy are due to start talks with investment bankers to draw up plans for a sale which could kick off as soon as the new year.

Current estimates as to the value of the company sit at around the £1.5bn mark which would put founder Matt Riley (who owns roughly half the business) among the wealthiest people in the country.

Riley led a £495m management buyout of the company in 2014 with the backing of Toscafund and Penta Capital and took the company private. According to city sources, there are no plans to pursue a public floatation.

In recent history Riley has made no qualms about the fact he wanted to build a multi-billion pound business. Editor, David Dungay spoke to CEO Neil Muller at the recent Channel Live exhibition about the future of the company (see below).

A spokesman for Daisy Group said: “We do not comment on speculation. Daisy is a privately owned business and its management team’s focus is solely on continuing to build on its position as the UK’s largest independent provider of business communications, IT and cloud services.”

Channel Live Day 1 – Neil Muller CEO from Daisy Group from Compare The Cloud on Vimeo.