Presidio Holdings has been acquired by funds affiliated with Apollo Global Management from affiliates of American Securities.
In accordance with the terms of the definitive agreement, which was announced on 1 December, 2014, funds affiliated with Apollo have acquired all outstanding common stock of Presidio. Going forward Presidio Holdings, Inc. will continue to do business as Presidio. Terms of the transaction were not disclosed.
"We are pleased to complete the acquisition and begin moving forward with a new partner. We believe Apollo is a great partner for Presidio, and we are excited about the opportunities this will bring us to continue to scale and grow our business," says Bob Cagnazzi, Presidio's Chief Executive Officer. "We are in an excellent position to build on our industry leadership in advanced IT solutions and services."
Matthew Nord, Partner at Apollo, says: "Presidio is a world-class business led by an outstanding management team that has consistently delivered for its partners and clients. We are eager to support the Company in its growth initiatives and strategic investment opportunities."
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.
