Dechert LLP has advised Ares Management Limited (Ares) on the refinancing of Daisy Group (Daisy) to support the founder of the business, Matthew Riley in an MBO from existing minority investor Toscafund.
The refinancing of Daisy is one of the largest European private credit transactions completed.
Daisy was founded in 2001 by executive chairman Matthew Riley and has since grown to be the leading independent provider of IT, communications and cloud services to UK businesses. Headquartered in Nelson, Lancashire it has circa 360,000 indirect and direct customers, circa 2,100 partners, circa 4,000 employees, and 30-plus locations nationwide.
The Dechert team was led by Corporate & Securities finance partner Philip Butler, with assistance from Corporate & Securities partners David Miles and Ross Allardice and Tax partner Jane Scobie and Corporate & Securities senior associates Smridhi Gulati and Mark Evans. Additional support was also provided by Corporate & Securities associates, Sarah Moffat, Ed Bartlett and Jamal Tuhin and paralegal, Amelia Ruff, International Trade, EU and Government Relations, senior director Roger Matthews and Tax associate Nicolas Kokkinos.
