A PENDLE company started in a garage has completed a remarkable success story.

Matthew Riley, owner of Nelson-based communications firm Daisy, has agreed to float it on to the stock market, securing himself a cash windfall believed to be worth £30million.

Mr Riley, 35, who founded Daisy in 2001 with just three staff, has completed a £200million reverse takeover of London-based Freedom4 Group PLC to form the new Daisy Group PLC.

The new firm will be headed by Mr Riley as chief executive and headquarte-red at Lindred Road Business Park in Nelson, where Daisy’s 176 employees are based.

After the deal was announced, Mr Riley said: “Over the last eight years, Daisy has grown to be a substantial provider of cost-effective communications services, with over 30,000 customers.

“Our intention to list on the Alternative Investment Market is great news for the local community and is a reflection of the hard work of all of Daisy’s employees over the years.

“This is the beginning of a very exciting phase for everyone at our Nelson office and gives us the firepower to continue growing and investing in the area.”

Mr Riley started Daisy eight years ago in his home garage, pitching the firm as ‘David to BT’s goliath’ in offering telecoms services.

Since then, the firm has grown by taking advantage of deregulation of the market.

By 2005, Daisy was turning over £20million and two years later, Mr Riley won a national competition which saw him handed £5million for the business and mentoring from retail mogul Sir Philip Green.

It is hoped the new combined firm, which has also taken over London company Vialtus Solutions, will formally float on to the stock market on July 21 and have a turnover of £100million.