Funds affiliated with Apollo Global Management are to acquire Presidio Holdings (Presidio) from affiliates of American Securities. Terms of the transaction have not been disclosed.
Presidio is a premier IT infrastructure solutions provider for approximately 6,000 clients across the United States. Aided by the expertise of its nearly 1,200 engineers, Presidio assists clients in designing, procuring, implementing and managing IT infrastructures that deliver tangible business value. Presidio provides services across six core technology verticals, including networking, data centres, mobility, security, collaboration, and contact centers and supports these solutions with market leading offerings such as Presidio Managed Networks and Presidio Managed Cloud. With over 2,200 total employees across 57 offices, Presidio is one of the largest private IT services providers in the nation.
“Our partnership with American Securities over the past three and a half years has allowed us to expand our offerings and execute accretive acquisitions,” says Bob Cagnazzi, Chief Executive Officer of Presidio. “At the same time, we are excited to announce this transaction with Apollo, which has a proven track record of investing in market-leading businesses, and we look forward to partnering with them to further develop and scale Presidio’s franchise.”
Matthew Nord, Partner at Apollo Global Management, says: “We are pleased to be partnering with Bob, his talented management team and Presidio’s outstanding workforce. Together, they have successfully built Presidio into a leader in the IT services arena, and we look forward to supporting them in their ongoing growth initiatives.”
LionTree Advisors served as financial advisor to Apollo. Wachtell, Lipton, Rosen & Katz served as legal counsel to Apollo. Barclays Capital and Credit Suisse Securities served as financial advisors to Presidio. Weil Gotshal & Manges served as legal counsel to Presidio.
