Eversheds has advised its long-standing client, AIM-quoted Daisy Group plc, a leading provider of IT services and unified communications to businesses, on a £494m buyout by a consortium of Matthew Riley (Daisy’s chief executive), Toscafund and Penta Capital. Mr Riley received advice from a separate Eversheds team on the terms of his equity investment.

An Eversheds team led by Danny Hall and Stephen Nash acted for Daisy and a separate Eversheds team led by Keith Froud and Mark Beardmore acted for Matthew Riley on his equity investment in the bidding vehicle.

Keith Froud commented:

"Eversheds has advised Daisy for the past 10 years as it has developed into one of Europe's most acquisitive tech businesses. We are delighted to have advised both Daisy and Matt Riley together with other members of the management team on this significant transaction which represents the next phase of the development of the business."