Wavenet and Daisy Corporate Services Join Forces

Wavenet and Daisy Corporate Services Join Forces to Create UK’s Largest Independent IT Managed Service Provider.

• Wavenet and Daisy Corporate Services announce plans to combine. 

• The newly combined business will become the largest independent MSP in the UK.  

• The new £500m revenue company will support over 22,000 businesses and public sector organisations delivering cloud, cyber security and connectivity solutions. 

Wavenet and Daisy Corporate Services have announced the decision to combine, creating the UK’s largest independent IT managed services provider.  

The business will be a key innovator with scale, focusing on delivering cyber, cloud and intelligent network solutions to UK businesses and the public sector. Its focus will be on customer service excellence, end-to-end solutions and being an expert and trusted partner. It will also boast increased buying capability and unrivalled alliances with global tech providers and tier one telcos. 

This latest deal will see the combined business generate a turnover of £500m, employ around 2,000 staff and support over 22,000 customers. Daisy Chairman Matthew Riley will join the Board as a non-executive director. 

Both Wavenet and Daisy have expanded significantly over recent years through organic growth and strategic acquisitions. In June 2023, Daisy acquired ECSC, bolstering its cyber and security capability. Wavenet has completed six acquisitions since 2021, with successful integration delivering a steep growth trajectory, as well as significantly building its IT services, cyber and next generation communications capability. 

Wavenet and Daisy bring together an impressive customer portfolio and future growth opportunities will come from cross and up-selling to Wavenet’s extensive customer base and Daisy’s select portfolio of high-value customers

Wavenet chairman Bill Dawson comments:

“We are thrilled to be joining forces with Daisy. By combining our strengths, resources and expertise, we are poised to create a stronger and more innovative organisation, well positioned to maximise on the rising tide markets of cyber, cloud and intelligent networks.  

Daisy is a well-known and well-respected business, and both parties bring unique but complementary strengths to the table. Our shared vision is to create a best-in-class business that will help shape the future of next generation technology.”

Bill Dawson, Wavenet chairman

Matt Riley, chairman of Daisy Corporate Services, adds:

“Daisy and Wavenet are a great fit, not just in terms of our current operations but our future aspirations and our culture. People are a top priority for both businesses, and we believe that our combined breadth of skill and depth of expertise will be unrivalled in our marketplace.  

The newly combined business will be primed for growth through the increased scale of our offering, greater market reach and cross-selling opportunities. We will also strengthen our existing alliances with global tech providers with the new business becoming the number one partner for many.”

Matt Riley, chairman of Daisy Corporate Service

The deal will see Wavenet’s existing private equity partner Macquarie Capital Principal Finance become the largest shareholder, with Matthew Riley and other existing Daisy shareholders retaining a minority stake in the business. This backing provides a strong balance sheet and investment to enable long term growth. 

The transaction is subject to customary regulatory approvals. 

Wavenet was advised by Travers Smith, with DWF Group advising Daisy Corporate Services.

For further information visit www.wavenet.co.uk or www.daisyuk.tech.

About Wavenet

Formed in 2000, Wavenet has grown to become a respected, multi-award-winning provider of telecoms, cybersecurity, IT & technology solutions to thousands of businesses and organisations across the UK. Its vision is to be the most respected provider of cyber security, cloud and technology solutions to UK customers by investing in the right technologies, partners and people, and maintaining strong and dependable growth. 

Wavenet is a managed service provider and has long-standing partnerships with top global technology providers including Microsoft, BT, Gamma, Extreme Networks, 8x8, Five9, Darktrace, Cato, Gigamon and more.  

Wavenet has offices in Solihull, London, Manchester, Cambridge, Norwich, Cardiff, Nottingham, Doncaster and Dorking and employs 900 people, including over 450 trained support staff and engineers. For more information, visit: www.wavenet.co.uk.

About Daisy Corporate Services

Daisy was founded by current Chairman Matthew Riley in 2001. Over the last two decades, Daisy has grown to be one of the largest providers of communications and IT solutions across the UK, with a portfolio spanning modern workplace, connectivity, unified communications, cloud, cyber security and operational resilience. 

Today, the Daisy Group is made up of Daisy Communications, which is not part of this transaction, serving the needs of small to medium businesses, and Daisy Corporate Services for the mid to enterprise markets. As a business created through organic growth and acquisitions, Daisy has an unrivalled breadth of portfolio and skills. 

Working with more than 2,000 UK business across all sectors and with more than 1,000 dedicated Daisy staff, Daisy Corporate Services is committed to keeping data safe, employees productive and infrastructure operational for all its customers. For more information, visit www.daisyuk.tech.

About Macquarie Capital Principal Finance

Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. It encompasses corporate advisory, a full spectrum of capital solutions, including capital raising services from equity, debt and private capital markets and principal investments from Macquarie’s balance sheet. Macquarie Capital has deep sector expertise in the aerospace, defence and government services, consumer, gaming and leisure, critical minerals, energy, financial institutions, healthcare, industrials, infrastructure, services, software, technology, telecommunications and media sectors.

Macquarie Capital Principal Finance, the financing and principal investing arm of Macquarie Capital makes investments from Macquarie’s balance sheet, provides flexible primary financing and secondary market investing solutions for corporate and commercial real estate clients across North America, Europe and Australasia.