Daisy Group makes £23.5m acquisition


Y GROUP clinched a deal to buyout the health-related business communications service provider NEG MBO Two (NEG) yesterday. The agreement saw seven NEG executives walk away with £23.5m between them. Three of them will remain with Daisy Group on an incentive scheme, taking a percentage cut of the net profits over the next two to three years. The news comes a week after Daisy announced the takeover of SpiriTel for £30m at 51.5p per share. Daisy has now taken over a total of 36 of its competitors. Founder Matthew Riley launched the telecommunications company in 2001. He is ambitious for Aim-listed Daisy, telling City A.M. that he hopes to take it onto the FTSE 250 in the next five years. Daisy’s share price rose 2p yesterday, closing at 96p.