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Eversheds advises Daisy on £165.3m agreement to acquire Alternative Networks PLC

  • Global
  • United Kingdom


    Eversheds has advised Daisy Intermediate Holdings Limited (Daisy) on its £165.3m cash offer to acquire the entire issued and to be issued ordinary share capital of Alternative Networks PLC (Alternative Networks).

    Daisy, an independent UK provider of end-to-end business technology and communications solutions to small-to-medium and mid-market businesses, has agreed to pay 335 pence per share for AIM-quoted Alternative Networks, a provider of IT and telecommunications solutions to businesses, covering the full spectrum of products and services from device to datacentre.

    The acquisition aims to build upon Daisy’s recent acquisitions of Damovo and Phoenix IT in the managed services segment and will further broaden and strengthen its mobile and fixed line product and service offerings.

    The Eversheds team, led by partner Stephen Nash, (corporate), comprised: Keith Froud (Head of Corporate and Daisy client partner), legal directors Mark Roe and Wyn Jones, associate Phillip Becker (all corporate), partner Danny Blum and senior associate Richard Sharman (both share incentives).

    Stephen Nash said:

    “We’re very pleased to have been able to support Daisy on yet another strategic transaction that helps complement and strengthen its existing platform for future growth. This is an exciting move for Daisy and one that reinforces its positioning in its chosen markets.”

    David McGlennon, Daisy’s General Counsel, commented:

    "We’re very grateful to Stephen and the Eversheds’ team for the advice and support they have once again provided us with. Their experience and commercial awareness has been invaluable in bringing us to the successful announcement of this strategic acquisition.”

    This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full terms and conditions on our website.

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