Penta backed Matt Riley, a highly successful telecoms entrepreneur in 2015 for the £500m take-private of Daisy Communications, the leading converged IT services and managed telecoms provider to UK SMEs.
The business provides a full suite of services to its customers in five distinct business lines: Networks, Internet and managed services, Maintenance, Support and System Sales and Mobile services and Business Continuity.
Subsequent to the initial take-private, the group grew substantially through acquisition. Phoenix IT, an AIM listed telecoms technology business, was acquired in late 2015 for £190m, bringing scale and broadening the group’s business continuity and managed services capability. In 2016, Alternative Networks was acquired for £185m, adding further to the group’s scale and capabilities in managed hosting.
Ultimately, the investment was exited in 2019 through a refinance.