Dechert Advises Ares on Daisy Group Refinancing in One of the Largest-ever European Private Credit Transactions
February 05, 2019
Dechert LLP advised Ares Management Limited (Ares) on the refinancing of Daisy Group (Daisy) to support the founder of the business, Matthew Riley, in an MBO from existing minority investor Toscafund. The refinancing of Daisy is one of the largest European private credit transactions ever completed.
Daisy was founded in 2001 by executive chairman Matthew Riley and has since grown to be the leading independent provider of IT, communications and cloud services to UK businesses. Headquartered in Nelson, Lancashire, it has over 350,000 indirect and direct customers and more than 30 locations nationwide.
The Dechert team was led by Corporate & Securities finance partner Philip Butler, with assistance from Corporate & Securities partners David Miles and Ross Allardice, Tax partner Jane Scobie, Financial Services partner Richard Heffner and Corporate & Securities senior associates Smridhi Gulati and Mark Evans. Additional support was also provided by Corporate & Securities associates Sarah Moffat, Ed Bartlett and Jamal Tuhin and paralegal Amelia Ruff, as well as International Trade, EU and Government Relations senior director Roger Matthews and Tax associate Nicolas Kokkinos.
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Dechert is a leading global law firm with 27 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity and efficient management of legal issues to deliver commercial and practical advice for clients.
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