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- Daisy Group
Daisy Group Acquisition, Valuation, Funding & Investors
Daisy Group was acquired by Virgin Media O2 in May 2025.
Daisy Group acquisition price
Undisclosed
Acquired by Virgin Media O2 · May 2025
Key investors in Daisy Group
Souter Investments
Toscafund Asset Management
Penta Capital
About Daisy Group
Daisy Group is a British provider of business communications, connectivity and managed technology services headquartered in Nelson, Lancashire. It supplies voice, mobile, broadband, cloud, contact-centre and related support services to organisations ranging from sole traders to larger businesses. Founded around 2001 by Matthew Riley, Daisy expanded through organic growth and a long programme of acquisitions, including SpiriTel, Damovo UK, Phoenix IT, Alternative Networks and Voice Mobile. Its operations combine recurring telecommunications contracts with implementation, account management and customer support delivered by teams across the United Kingdom.
Founded
2001
HQ
Website
Status
Acquired
Customer focus
B2B
Revenue model
Services
Sectors
Daisy Group Acquisition
Daisy Group was acquired by Virgin Media O2 for an undisclosed price on 12 May 2025.
Virgin Media O2 announced on 12 May 2025 a merger of its direct B2B operations with Daisy Group, the UK's largest independent specialist communications provider offering cloud-based communications, 5G private networks, IoT connectivity, security, and AI-powered products to businesses. The transaction creates O2 Daisy, a £3 billion enterprise (including debt) with pro forma annual revenues of £1.4 billion and adjusted EBITDA of £150 million, serving hundreds of thousands of SMBs, enterprises, public sector bodies, and partners from SOHO to large organizations. Leadership includes Daisy founder Matthew Riley as Chairman and Virgin Media O2 Business MD Jo Bertram as CEO, with offices in Nelson, Sheffield, Manchester, London, Reading, and Bournemouth. Virgin Media O2 consolidates the entity with a 70/30 ownership split favoring Virgin Media O2 and Daisy Group holding the minority stake. Deal structure involves Virgin Media O2 contributing a £425 million secured intercompany loan and Daisy £835 million in debt, plus additional financing at closing for debt repayment, maintaining Virgin Media O2's 4x-5x leverage target and value-accretive profile with £600 million in projected synergies, over half within three years. The merger leverages Virgin Media O2's fixed/mobile networks and wholesale agreements with Telefónica and Liberty Global for enhanced scale, efficiencies, and product expansion including data/Wi-Fi, workplace tools, cybersecurity, and O2 Motion insights. Originally expected to close in early H2 2025 pending regulatory approvals, O2 Daisy launched by August 2025, retaining existing brands during integration while planning further updates. The combined entity positions as the UK's second-largest SMB solutions provider, boosting B2B competition amid regulatory, security, and compliance-driven market dynamics, with post-merger commitments like Gamma's seven-year wholesale deal transitioning its SME direct customers to O2 Daisy.
| Acquirer | Date | Type |
|---|---|---|
| 12 May 2025 | Strategic M&A |
Daisy Group Funding History
Daisy Group has raised 1 funding round.
| Date | Stage | Investors | Deal Summary |
|---|---|---|---|
| May 2015 | Undisclosed stage | Penta Capital (lead); Toscafund Asset Management (lead); Souter Investments | Souter Investments invested in Daisy Group as part of a Penta Capital led syndicate that supported the company's take-private and its subsequent expansion. A consortium comprising Daisy's founder and executive chairman Matthew Riley, Toscafund Asset Management and Penta Capital agreed to buy the AIM-quoted business for £494 million, paying 185 pence per share, a premium of about 15% to the last closing price before the approach. Souter's syndicate also funded Daisy's later acquisition of Phoenix, which broadened the product range and customer reach. Daisy supplies business communications and IT infrastructure services to small and medium-sized companies, including fixed and mobile telephony, connectivity, cloud and managed IT services, from its base in Nelson, Lancashire. Souter records the holding with a May 2015 vintage and describes it as growth capital in which it acted as co-investor, and the position has since been realised. |
Who has invested in Daisy Group?
3 investors have backed Daisy Group across its funding rounds, including Souter Investments, Toscafund Asset Management and Penta Capital.
Lead investors include Penta Capital and Toscafund Asset Management.
Daisy Group Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | May 2015 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Daisy Group
Daisy Group has acquired 7 companies to date.
Last acquisition by Daisy Group was on April 12th 2024. Daisy Group acquired 4Com for $273M.
Latest Acquisitions by Daisy Group
| Description | 4Com is a Bournemouth-headquartered telecommunications provider founded in 1999 serving UK small and medium-sized businesses with hosted VoIP systems like the HiHi platform featuring video calling, mobile integration, and call reporting. Additional services encompass business broadband via fibre and leased lines, mobile contracts, call analytics, installation, training, and support across sectors. | DV02 was a Portsmouth-based reseller of voice, mobile, data and video communications products to organisations in the private and public sectors. The company had worked as a Daisy Group wholesale partner since 2004 and employed 12 people when it was acquired. Its sales and operations teams were retained after the transaction. DV02's customer relationships and communications expertise supported Daisy's effort to expand its smaller-business mobile base and cross-sell a broader set of connectivity services. The reseller also brought skills relating to Mitel communications systems into the group. Daisy planned to preserve the customer-facing team while combining DV02's product knowledge with its national network, billing and support infrastructure. | Voice Mobile was a British business mobile communications reseller and a long-standing distribution partner of Daisy Group. The company supplied mobile services and related support to business customers through a workforce of 47 employees at the time of acquisition. Its customer book and staff were retained and integrated into Daisy's operations. The purchase formed part of Daisy's 2018 effort to expand its base of smaller mobile customers through acquisitions of established channel partners. Voice Mobile had a commercial relationship with EE and managed mobile accounts for new and existing business customers. Following the sale, its staff joined Daisy Distribution and supported a newly created EE centre of excellence for internal teams and channel partners. | Phoenix IT Group was a UK IT services company supplying managed IT services, business continuity and disaster recovery, and partner services to mid-market corporates and public sector bodies. Headquartered in Northampton, it operated data centres and recovery sites across the UK and was listed on the London Stock Exchange until Daisy Group acquired it in 2015. Revenue came from multi-year managed service and support contracts. | |
| HQ Country | |||||
| HQ City | - | Portsmouth | Nelson | Northampton | |
| Deal Date | 12 Apr 2024 | 22 Jun 2018 | 19 Jun 2018 | 27 May 2015 | |
| Valuation | $273M | undisclosed | undisclosed | $207M | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Daisy Group Competitors
Daisy Group competitors include listed companies like GFT Technologies, transcosmos, SNP Group and AXISCADES Technologies, and private ones like TJM Labs and BlueVoyant.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $996M | $78M | $796M | 0.9x | ||
| Publicly listed | $2.5B | $152M | $800M | 0.2x | ||
| Publicly listed | $333M | $64M | $795M | - | ||
| Publicly listed | $123M | $19M | $809M | 6.3x | ||
| Private | - | - | $750M | - | ||
| Private | - | - | $1B | - |
Daisy Group Public Comps
Daisy Group is no longer listed, but its public comps include GFT Technologies, transcosmos, SNP Group, AXISCADES Technologies, Beyondsoft, Tata Teleservices, Toukei Computer, Techmatrix, Datagroup and Quest Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $996M | $78M | 0.9x | 0.9x | 11.6x | 9.8x | |||
| $2.5B | $152M | 0.2x | 0.2x | 3.2x | - | |||
| $333M | $64M | 2.3x | - | 12.2x | - | |||
| $123M | $19M | 6.9x | 6.3x | 43.7x | 36.6x | |||
| $1B | $33M | 0.6x | 0.6x | 17.6x | - | |||
| $122M | $66M | 23.9x | - | 44.2x | - | |||
| $132M | $52M | 5.6x | 5.6x | 14.3x | - | |||
| $453M | $49M | 1.5x | 1.3x | 13.4x | - | |||
This data is available for Pro users. Sign up to see all Daisy Group competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Daisy Group
| When was Daisy Group founded? | Daisy Group was founded in 2001. |
| Where is Daisy Group headquartered? | Daisy Group is headquartered in Nelson, United Kingdom. |
| Is Daisy Group publicly listed? | No, Daisy Group was acquired by Virgin Media O2 in May 2025. |
| Who acquired Daisy Group? | Daisy Group was acquired by Virgin Media O2 in May 2025. |
| What was Daisy Group's last funding round? | Daisy Group's last funding round was a undisclosed-stage round in May 2015, led by Penta Capital and Toscafund Asset Management. |
| Who are Daisy Group's investors? | Daisy Group's investors include Toscafund Asset Management, Penta Capital and Souter Investments. |
| Which companies are comparable to Daisy Group? | Companies comparable to Daisy Group include GFT Technologies, transcosmos, SNP Group, AXISCADES Technologies, TJM Labs and BlueVoyant. |
| How many companies has Daisy Group acquired? | Daisy Group has acquired 7 companies, including 4Com, DV02, Voice Mobile, Phoenix IT Group and Damovo UK. |
| What was the largest acquisition by Daisy Group? | The $273M acquisition of 4Com in April 2024 is the largest acquisition Daisy Group has made to date. |
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