The deal is Daisy’s second largest acquisition to date, and also its second this month following the acquisition of the business telecoms provider SpiriTel for £27.3 million.
Matthew Riley, Daisy’s CEO, comments: ‘The acquisition of NEG is a continuation of our stated consolidation drive in the fragmented reseller market. NEG has a proven track record for organic growth, further potential to grow, and provides the group with a strong footprint in a market in which we believe we can increase market share further.’
Trading under the brand Surgery Line, NEG MBO Two provides network services and telephony hardware and installation to clients, more than half of which are healthcare general practitioners. In the year to date, the company declared a net profit of around £3.4 million on a turnover of £11.2 million.
Lancashire-based Daisy provides voice and data telecoms services to small and mid-sized companies in the UK, and in the last financial year declared a turnover of £53 million.