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72


DEALMAKERS


IN ASSOCIATION WITH:


ON CLOUD NINE


By Ged Henderson


THE BIG DEAL


Nelson-based telecoms group Daisy has demerged its cloud business into a separate company with a £1bn valuation and an eye on flotation on the London Stock Exchange.


The IPO route Digital Wholesale Solutions (DWS) is looking to take is set to become one travelled by a growing number of North West tech businesses, according to market watchers.


And there are predictions that competition for investment is set to intensify as UK IPO activity is expected to surge this year.


Daisy group founder Matthew Riley agreed the sale of a stake in DWS to private equity fund 


The business says the move has secured 200-plus jobs at the company’s Lancashire HQ as well as opening the door to future growth and development.


DWS was founded in 2007 and was separated out under the leadership of chief executive Terry O’Brien in May 2019.


Matthew Riley


“This, coupled with the simplifying of how we go to market, has enabled DWS to gain market leading organic growth.


He will remain in post, leading the business with the support of his existing management team, with Matthew Riley continuing as chairman.


Matthew Riley said: “We made the strategic decision to separate DWS from the Daisy Group over two and half years ago in order to allow the relevant divisions to concentrate on growth.


“The opportunity for the channel to take more  is unprecedented.


“It was very important that jobs were secured within the deal and am proud to say that this is the case, with a lot of scope for further development and recruitment down the line. It really is fantastic news for the Lancashire area.”


  that we like about the business; it is a strong, growing, entrepreneur-led business, operating in a resilient sector, delivering recurring revenues on a proprietary software platform, with an excellent management team and an excellent reputation and high customer satisfaction.


“This is a perfect recipe for the public markets;  entrepreneurs with pre-IPO fund raising and we are looking forward to working with Terry and his team to de-leverage DWS and advise and guide as it prepares for a successful IPO.”


A new report by EY has revealed how the London Stock Exchange closed last year with


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