Just as it promised its shareholders last month, acquisitive business communications provider Daisy Group has bought up rival SpiriTel for £27.5m, the largest acquisition it has made since embarking on a buy-and-build frenzy in 2009.
Hosted VoIP specialist and Mitel reseller SpiriTel has also established itself as a magnet for comms channel M&A activity, having bought 12 businesses since 2006.
Daisy claimed today that the acquisition of SpiriTel, which boasts around 4,000 SMB customers, was the last step on the way to becoming a midmarket provider.
It also provides a significant boost to Daisy's own capabilities around the Mitel UC line-up.
"With our data hosting capabilities from the former Vialtus business, this deal gives us a great cross-sale opportunity to sell hosted solutions and fill our three data centres," said Daisy CEO Matthew Riley.
"In addition, the business' [Spiritel's] position as a Mitel Premier Partnmer, coupled with a nationwide engineering force will see enhancements to the Group's systems and maintenance division," he said.
Alastair Mills, CEO of SpiriTel, added: "SpiriTel has demonstrated how acquisitions can build real value and I am sure the business will continue to prosper."
Knight CorporateFinance and finnCap advised SpiriTel during the acquisition process.