Daisy secures first deal since privatisation

Daisy Group has announced the acquisition of Damovo UK Limited, a provider of voice-based unified communications to the public and private sector.

With growth in its enterprise base highlighted as a key area of focus, the Daisy leadership team believes it can develop the Horsham-based operation through its specialist managed services.

Meanwhile Lloyds Bank Commercial Banking has announced that it supported the privatisation with a £265m package, which was backed by Riley, Toscafund Asset Management LLP and Penta Capital LLP.

James Ranger, co-head of mid-markets, acquisition finance, Lloyds Bank Commercial Banking, said: “A targeted acquisitive growth strategy has helped Daisy Group become one of the leading players in the business-to-business communications industry. "The expansion of and diversification of Daisy Group into new and exciting areas of IT and telecoms has been led by a determined management team, which will no doubt continue its impressive trajectory as a private company with fresh private equity funding.”