3rd Aug 2015 09:12
LONDON (Alliance News) - Oakley Capital Investments Ltd on Monday said that Fund II, Oakley Capital Private Equity II, has taken a minority stake in Daisy Group Holdings Ltd from its founder Matthew Riley and hedge fund Toscafund Asset Management LLP.
The deal comes after Daisy's GBP135 million acquisition of IT services company Phoenix IT Group PLC in May. Daisy Group itself was acquired for GBP494 million in 2014 by a consortium led by Riley and backed by Toscafund and Penta Capital LLP.
AIM-listed Oakley Capital Investments was established to give investors access to Oakley Capital Private Equity LP and its successor fund, Oakley Capital Private Equity II.
Fund II has acquired the minority stake in Daisy for GBP39 million. Oakley Capital Investments said it is familiar with Daisy, given that Fund I previously held a 13.6% stake in the company.
Oakley Capital Investments said it contributed about GBP14.9 million to Fund II's equity investment in Daisy. The AIM-listed company has also provided GBP14.0 million directly to Daisy in the form of mezzanine finance.
By Samuel Agini; [email protected]; @samuelagini
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