Daisy Group is on course to go on sale for 1 billion from as early as March, according to a report.
The telecoms VAR, one of the largest in the UK, apparently appointed UBS and Oakley Advisory to help it through the process towards the end of last year, though it also considered returning to the stock exchange to raise capital to help it double in size within five years, taking on BT.
However, it has now decided on a sale, according to the Financial Times. While it would like to close any deal within three months, the publication said, it could be later than that, depending on interest from potential buyers. Those rumoured to be in the running to make an acquisition include Vodafone and Virgin Media, which have both discussed buying the firm in the past.
Daisy Group has made a string of high-profile acquisitions in recent years, including the purchase of 46 smaller companies, up to the point it accepted a 500 million investor buyout and went private in 2014. After it pulled down its listing, it continued buying oher telecoms companies, including Phoenix IT and Alternative Networks.
The company has grown fast since it was privatised, with revenues predicted to be around the 120 million mark for 2017. This indicates a growth of almost 100% since it was listed on the stock exchange.
Daisy hasn't commented on the potential sale, although the company's CEO, Neil Muller did confirm reports the company was looking to grow at speed to take on its major rivals.
At present, Daisy Group has 1,400 resellers, selling to small businesses, while its direct sales to mid and large companies makes up 60% of its total sales, according to the FT.
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