When Daisy was taken private for £484m Oakley Capital benefited to the tune of £69m. Oakley, also chaired by Dubens, owned 13.6% of Daisy at the time.
Dubens revealed he had bought the stake from Mr Riley and major investor Toscafund. Oakley has also provided a £14m loan to Daisy Group.
“We are delighted to be acquiring a stake in Daisy – it is a business we know well and one that has created very significant value for Oakley in the past”, said Mr Dubens.
“It is led by a highly respected management team that has recently completed the acquisition of Phoenix IT to create a leading UK Unified Communications and IT services business. We look forward to working with our fellow shareholders and the management team to generate further growth and value over the coming years.”
Mr Dubens added: “Our long term commitment to successful sectors and entrepreneurs is a key feature of our investment strategy and returns profile. We are delighted to be working once again with Matt Riley, one of the UK’s leading TMT business builders.”