Daisy steps up its M&A activities as Knight advises DV02 on its sale | Knight

Daisy steps up its M&A activities as Knight advises DV02 on its sale

Knight Corporate Finance, the specialist TMT corporate finance boutique, advised the shareholders of DV02 on its sale to telecoms reseller Daisy Group.

Fixed line and mobile reseller DV02 was founded by Vince Potter in 2002 and was subsequently joined on the board by Steve and Gregg Tutt in 2004. DV02, as a longstanding partner of Daisy, entered into discussions directly about a potential acquisition. Not having undertaken a transaction of this nature before, DV02 engaged Knight to advise on the transaction and provide assistance in negotiating the offer, due diligence and legal process. Given DV02 had not expected initial discussions with Daisy to progress so quickly, they were not fully prepared for a trade sale process.

Paul Billingham, co-founder of Knight CF said “We had been talking to the guys at DV02 about potential acquisitions when they received an outline proposal from Daisy. Daisy were keen to drive a very rapid process and so our experience in transactions in the sector ensured that we could mitigate the lack of preparation and allow DV02 to meet the strict timetable”.

Steve Tutt commented “We knew that the sales process was likely to be challenging. It was only once we were in the process that we appreciated just how much support and expertise Knight bring to the process. Receiving an offer from an interested party is the tip of iceberg, actually selling your business is extremely time-consuming and stressful”.

Vince Potter added “Knight were able to identify the right battles to fight, the important pieces of information to focus on, and the key areas of risk to ensure that we got the deal over the line on time. I am convinced that we wouldn’t have achieved this without them and we were very grateful to have them on our side.”

Founded in 2008, Knight works with entrepreneurs to unlock and realise shareholder value in their business. It has completed over 90 transactions in the telecommunications, media and technology sectors from its Warrington and London offices.