Daisy snaps up acquisitive SpiriTel


Daisy snaps up acquisitive SpiriTel

Alex Scroxton

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.

Most recently, it bought Shropshire-based housing association focused comms provider Housing Communications Limited for £2.1m, and in March this year picked up Mitel partner Nessco.

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.

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