PENDLE communications firm Daisy plans more takeovers after agreeing a £75million overdraft.
The credit facility will be provided by banking giants Lloyds TSB, Yorkshire and HSBC, with each one offering £25million each.
Bosses at Daisy, based on the Lomeshaye Industrial Estate in Nelson, hope it will fund more acquisitions.
Chief financial officer Anthony Riley said: “We have been working with the banks for a number of months to put in place the best facility for Daisy Group.
“We are delighted that they have agreed to offer us this facility, having completed extensive due diligence on the strength of the business.
“From the perspective of Daisy, we are convinced this is the right deal for us, strengthening and supporting our model and enabling us to continue with our stated consolidation.
”Daisy was founded by Barrowford entrepreneur Matthew Riley in 2001 and offers telecoms services to businesses. Since a £500million flotation on to the stock market last year, the firm has snapped up several rivals, including Vialtus Solutions, Eurotel and Redstone Telecom.
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