Matt Riley set to purchase full control of Daisy

Entrepreneur Matt Riley is expected to purchase full control of Daisy after rejecting a bid from a private equity firm that would have valued the company at £1.6bn.

sizeable acquisitions

Today, Investors Toscafund and Oakley Capital own about half of the business between them. Bain Capital was in advanced talks to buy them out before Riley reportedly turned down the offer.

However, Riley now intends to take the company private in a deal which is expected to include a £1bn package to refinance the business. Nelson-based Daisy employs 4,000 and manages mobile, cloud and other services for business customers. It has more than 60,000 direct customers, including around half of Britain's high street retailers.

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