Daisy Group went private sometime in 2015. According to recent reports that remain largely shrouded in mystery, the organisation may be considering a stock market comeback, either during this year (2017), or as part of the start for 2018.
As per information from the Sunday Times, the company could be plotting a £1.4bn market return, after 2015, when private equity firms Penta Capital and Toscafund took Daisy Group off the public market for around £494m. For those who don’t know, a float refers to the number of shares that are available for trading. In other words, if a stock market float is, in fact, in the cards for Daisy Group, it may once again become available on the public market.
About Daisy Group
Daisy claims to be the largest independent business services and telecoms company within Britain, promoting itself as an alternative to big-name brands like Virgin and BT. Currently, some of the major customers that use Daisy Group include the brewer and pubs chain Marston’s, Specsavers, and many more. Last year, the Lancashire-based company paid out £165 million to acquire its rival, “Alternative Networks”, which lead to a debt of around £20m.
At the time, a consortium including the executive chairman and founder for Daisy, Matthew Riley, alongside Penta Capital and Toscafund paid around 185p at the time, which adds up to a 14.7% premium for the closing share price of the company during its final day of trading.
From Ambitious Beginnings
Interestingly, the growth of Daisy Group has been something of an exciting tale since the beginning. For instance, Matthew Riley left school at only 16, and began the company soon after selling a recruitment business. Since it began operating during 2001, Daisy Group has seen quite a significant amount of corporate activity, and it’s well-known for its largely acquisition-based strategy for growth, which included around 50 takeovers.
The former Aim-listed business currently employs around 3,700 staff across 30 locations in the UK. Right now, the company is refusing to offer any comments or insight into the potential float plans, or where the business will go next in this competitive telecom environment. Currently, it’s probably safe to say that investors will be watching the market with a keen eye, to see if Daisy Group really does make its way back into the world of public offerings.
About Daisy Group
Daisy Group are a leading UK company that focus on end-to-end business communications and solutions for managed services. They provide IT, mobile, voice and data products, and attempt to empower businesses from various industries to embrace the newest and most innovative technology on the market, from cloud to mobile. They also work through Telco’s, System Integrators, and Value-added resellers to help them improve their services for enterprise customers.
