Presidio, Inc. Announces Completion of Acquisition by Affiliates of Funds Advised by BC Partners
19 Décembre 2019 - 2:00PM
Presidio, Inc. (NASDAQ:PSDO) (together with its subsidiaries,
“Presidio” or the “Company”), a leading North American IT solutions
provider delivering Digital Infrastructure, Cloud and Security
solutions to create agile, secure infrastructure platforms for its
customers, today announced the completion of its acquisition by
affiliates of funds advised by BC Partners in an all-cash
transaction valued at approximately $2.2 billion, including
Presidio’s net debt.
The transaction, which was announced on August 14, 2019, was
approved by Presidio’s stockholders on November 6, 2019. In
connection with the closing of the transaction, the Company will be
wholly owned by affiliates of funds advised by BC Partners and will
continue to operate as Presidio, Inc. Presidio’s common stock will
be delisted from the Nasdaq Global Select Market.
Bob Cagnazzi, Chief Executive Officer of Presidio, said, “We are
extremely excited to partner with BC Partners on Presidio’s next
chapter. We believe our relationship with BC Partners will allow us
to accelerate our growth, giving us the flexibility to provide our
clients with the highest quality, optimal and innovative solutions
for their complex and evolving IT needs, and at the same time
providing our employees with an environment that continues to make
Presidio a great place to work.”
“Presidio is a world-class business led by an outstanding
management team that consistently delivers for its partners and
clients. We are excited to support the Company in its growth
initiatives and strategic investment opportunities,” said Fahim
Ahmed, partner at BC Partners.
LionTree Advisors acted as financial advisor to Presidio, and
Wachtell, Lipton, Rosen & Katz acted as its legal counsel.
Citi, J.P. Morgan Securities LLC and RBC Capital Markets acted as
financial advisors and Kirkland & Ellis LLP acted as legal
counsel to BC Partners.
ABOUT PRESIDIO
Presidio is a leading North American IT solutions provider
focused on Digital Infrastructure, Cloud and Security solutions to
create agile, secure infrastructure platforms for its customers. We
deliver this technology expertise through a full life cycle model
of professional, managed, and support services including strategy,
consulting, implementation and design. By taking the time to deeply
understand how our clients define success, we help them harness
technology advances, simplify IT complexity and optimize their
environments today while enabling future applications, user
experiences, and revenue models. As of June 30, 2019, we serve
approximately 7,900 middle-market, large, and government
organizations across a diverse range of industries. Approximately
2,900 Presidio professionals, including more than 1,600 technical
engineers, are based in 60+ offices across the United States in a
unique, local delivery model combined with the national scale of a
$3.0 billion dollar industry leader. We are passionate about
driving results for our clients and delivering the highest quality
of service in the industry. For more information visit:
www.presidio.com.
ABOUT BC PARTNERS
BC Partners is a leading international investment firm with over
€22 billion of assets under management in private equity, private
credit and real estate. Established in 1986, BC Partners has played
an active role in developing the European buy-out market for three
decades. Today, BC Partners executives operate across markets as an
integrated team through the firm’s offices in North America and
Europe. Since inception, BC Partners Private Equity has completed
111 private equity investments in companies with a total enterprise
value of €135 billion and is currently investing its tenth private
equity fund. For more information, please visit
www.bcpartners.com.
Source: Presidio, Inc.
CONTACT INFORMATION
Investor Relations Contact:Ed
Yuen866-232-3762investors@presidio.com
Media Relations Contact:Catherine
Johnson626-818-9287Pro-bcpartners@prosek.com
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