The UK’s Daisy Group has made Fone Logistics its latest in a long line of acquisitions, buying the company for £3.6m.
Fone Logistics provides mobile handsets and airtime to the SME market via more than 600 independent dealers who receive commission from…
The UK’s Daisy Group has made Fone Logistics its latest in a long line of acquisitions, buying the company for £3.6m.
Fone Logistics provides mobile handsets and airtime to the SME market via more than 600 independent dealers who receive commission from mobile operators for connecting them to SME customers.
The company has strong relationships with O2, Vodafone and Orange, as well as vendors such as Nokia and Sony Ericsson.
Earlier this month Daisy secured a £75m revolving credit facility from Lloyds TSB, HSBC and Yorkshire Bank as it looks to continue on the acquisitive path.
For the 6 months ended April 30 2010 Fone Logistics reported revenues, gross profit and EBITDA of £19.6m, £2.1m and £0.5m respectively.
