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MSP Presidio acquired in multi-billion dollar deal

MSP Presidio acquired in multi-billion dollar deal

Global managed service provider Presidio is being acquired by a new investment firm in a multi-billion dollar deal, as it targets further market growth.

Clayton Dubilier & Rice (CD&R) is acquiring the $6 billion-turnover company from BC Partners, which will maintain a minority shareholding. The exact terms and value of the deal have not been disclosed.

With 6,700 customers, and relationships with leading technology providers such as Amazon, Palo Alto Networks, Microsoft, Google, Cisco and Dell, Presidio has 3,500 staff worldwide.

It offers customers a full suite of solutions across data and analytics, cloud services, cyber security solutions and infrastructure services.

“CD&R is an experienced technology investor with a long-standing track record of applying an operational mindset to build businesses with enduring value, and our leadership team and I are excited to welcome CD&R as Presidio’s new investment partner,” said Bob Cagnazzi, CEO of Presidio.

“We remain committed to growing by continuing to deliver high-quality technology solutions and services to help our customers deliver impactful outcomes through the strategic use of technology. The technology depth of our Presidio team, along with the operating expertise of CD&R and continued support of BC Partners, will help us execute on our ongoing business evolution to deliver world-class solutions to customers, drive deeper relationships with our technology ecosystem partners, and create opportunities for our employees worldwide,” said Cagnazzi.

London-based BC Partners acquired Presidio in 2019, de-listing the company from the US Nasdaq in a $2.1 billion take private transaction. Under BC Partners’ ownership, US-headquartered Presidio expanded internationally, including the acquisition of Ireland’s Arkphire services business.

Upon completion of the transaction, CD&R operating partner Bill Berutti will serve as chair of Presidio’s board of directors.