New loan from Barclays brings total credit facility to £115 million as Daisy Group looks to expand further
Unified telecoms provider Daisy Group has secured an extra £40 million credit facility from Barclays in order to further fund its acquisition and consolidation strategy.
This move increases Daisy’s overall credit facility to £115 million, adding to its existing three year loans with Lloyds, Yorkshire Bank and HSBC.
Daisy Group chief financial officer Anthony Riley (pictured) said: “The increased facility provides funding for further growth and demonstrates the confidence that the participating banks have in our ability to consolidate the fragmented reseller market place.”
Daisy Group’s most recent acquisitions came towards the end of last year, when it bought resellers NEG MBO Two for £23.5 million in December and SpiriTel for £27.3 million in November.