Royal Bank of Scotland backs Daisy's acquisition ambitions

Royal Bank of Scotland backs Daisy's acquisition ambitions

Daisy Group’s potential acquisition war chest has increased to £140m with the addition of the Royal Bank of Scotland (RBS) to its group of lenders.

Other major banks providing lending facilities to Daisy Group include Lloyds, HSBC, Barclays and Yorkshire Bank.

RBS played a pivotal role in supporting Daisy Group’s latest strategic acquisition of conference call aggregator Worldwide Group Holdings.

The finance package from RBS was arranged between the RBS CIB and RBS Structured Finance teams based in Manchester, assisted by specialists from the technology, media and telecoms sector team.

Daisy Group CFO Steve Smith said: ‘We are delighted that RBS has joined our banking club as part of this transaction. They showed a positive desire to support us throughout the transaction process.

'They also took the necessary time to fully understand the business and markets in which we operate, which led them to making an approved offer within a tight timeframe. We value their support in this transaction and look forward to building a longstanding relationship with RBS going forward.’

Steve Lewis, North West regional director at RBS corporate and institutional banking, said: ‘We are very pleased to have been able to provide support to Daisy to enable it to complete this important acquisition.

'Despite a challenging business environment, the management team has delivered excellent results. Based on their in-depth knowledge of the sector and Daisy’s strong market reputation, the business is well-placed to capitalise on market opportunities and to deliver its growth plans. We look forward to building on our strong working relationship as these develop.’

Written by Mobile Today
Mobile Today

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