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BC Partners sells IT group Presidio to CD&R in $4bn deal

UK private investment firm BC Partners has agreed to sell Presidio, a provider of IT services to some of the world’s largest companies including Amazon, to US rival Clayton, Dubilier & Rice, in a deal that values the business at around $4bn, according to a report by the Financial Times.

The report cites several unnamed people familiar with the matter as confirming the sale, which is being seen as the latest indication of a recovery in private equity dealmaking.

Presidio, which has generated nearly $6bn in revenue and employs more than 3,500 people globally, first drew private equity attention in 2011 when it was acquired by US buyout group American Securities, before Apollo agreed to acquire it in 2014.

The business went public in 2017, with BC Partners taking it private again in a $2.1bn deal two years later.

The sale to CD&R is the latest exit for BC Partners, which has returned more than $7.5bn to investors over the past 12 months after reducing its stake in US pet company PetSmart and striking a deal to sell Italian bakery company Forno D’Asolo to a rival buyout group.

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