BC Partners Buys Presidio
BC Partners buys Presidio.
BC Partners buys Presidio for $2.1 billion.
Presidio is an IT managed service provider focused on digital infrastructure, business analytics, cloud, and cybersecurity. The firm delivers these capabilities through a full life cycle model of strategy, consulting, design, and execution. It's a close partner of Cisco Systems, Dell EMC, and VMWare Cloud on AWS.
BC Partners holds investments in 108 companies across 17 countries with a combined enterprise value of $151 billion. It bought advisory firm Teneo in 2015, and in 2017 bought CenturyLink's data centers, permeated them with cybersecurity know-how, and renamed the business Cyxtera.
Bob Cagnazzi of Presidio said: ‘We believe this transaction will give immediate substantial value to Presidio stockholders, while providing us with a partner that can add strategic and operational ability to our business, with a focus on executing our long-term strategy.’
Fahim Ahmed of BC Partners said: 'Presidio has become the leader in designing, developing, deploying and managing agile secure IT infrastructures that drive real business value for thousands of commercial and public sector entities across the United States. We look forward to supporting the Company in its next phase of growth.’
Raymond Svider of BC Partners added: ‘Presidio fits squarely with our key investment priorities. Its markets enjoy secular growth, as IT systems and networks have become increasingly complex. It's well-positioned as a leader in a fragmented industry, offering scope for further expansion. We’re excited to partner with Bob and his team to support the future growth of the business.’
LionTree Advisors served as financial adviser to Presidio. Wachtell, Lipton, Rosen & Katz served as legal adviser.
Citigroup, JP Morgan, and RBC Capital Markets served as financial advisers to BC Partners. Kirkland & Ellis served as legal adviser.
BC Partners buys Presidio for $2.1 billion.
Presidio is an IT managed service provider focused on digital infrastructure, business analytics, cloud, and cybersecurity. The firm delivers these capabilities through a full life cycle model of strategy, consulting, design, and execution. It's a close partner of Cisco Systems, Dell EMC, and VMWare Cloud on AWS.
BC Partners holds investments in 108 companies across 17 countries with a combined enterprise value of $151 billion. It bought advisory firm Teneo in 2015, and in 2017 bought CenturyLink's data centers, permeated them with cybersecurity know-how, and renamed the business Cyxtera.
Bob Cagnazzi of Presidio said: ‘We believe this transaction will give immediate substantial value to Presidio stockholders, while providing us with a partner that can add strategic and operational ability to our business, with a focus on executing our long-term strategy.’
Fahim Ahmed of BC Partners said: 'Presidio has become the leader in designing, developing, deploying and managing agile secure IT infrastructures that drive real business value for thousands of commercial and public sector entities across the United States. We look forward to supporting the Company in its next phase of growth.’
Raymond Svider of BC Partners added: ‘Presidio fits squarely with our key investment priorities. Its markets enjoy secular growth, as IT systems and networks have become increasingly complex. It's well-positioned as a leader in a fragmented industry, offering scope for further expansion. We’re excited to partner with Bob and his team to support the future growth of the business.’
LionTree Advisors served as financial adviser to Presidio. Wachtell, Lipton, Rosen & Katz served as legal adviser.
Citigroup, JP Morgan, and RBC Capital Markets served as financial advisers to BC Partners. Kirkland & Ellis served as legal adviser.
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