EXCLUSIVE BC Partners explores $4 billion sale of IT firm Presidio – sources

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A woman uses a computer keyboard in this photo illustration taken in Sydney June 23, 2011. REUTERS/Tim Wimborne/

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July 11 (Reuters) – Private equity firm BC Partners Ltd is considering selling Presidio Inc, which could value the U.S. information technology provider at more than $4 billion including debt, two people told Reuters close to the file.

BC Partners is working with an investment bank for a New York-based Presidio sale process, said the sources, who spoke on condition of anonymity because the matter is confidential. Presidio generated $3.1 billion in revenue and earnings before interest, taxes, depreciation and amortization of more than $350 million in 2021, the sources said.

A spokesperson for BC Partners declined to comment. Presidio did not immediately respond to a request for comment.

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Presidio provides secure cloud technology to organizations ranging from government agencies to enterprises such as Amazon.com Inc (AMZN.O), Cisco Systems Inc (CSCO.O), Dell Technologies Inc (DELL.N) and Intel Corp (INTC .O). It has approximately 8,000 customers worldwide.

Like many tech companies, Presidio has benefited from an increase in demand for IT services during the COVID-19 pandemic as companies invest more to adapt to remote work environments and build cybersecurity capabilities.

Presidio has had several private equity owners since its inception in 2003. Buyout firm American Securities acquired Presidio in 2011 for an undisclosed amount. He sold the company to Apollo Global Management Inc (APO.N) three years later for around $1.3 billion, Reuters reported at the time.

Apollo took Presidio public in 2017 and BC Partners took it private in 2019 in a $2.1 billion deal. Under BC Partners ownership, Presidio has acquired several smaller rivals, including Irish IT consultancy Arkphire and Charlotte, North Carolina-based ROVE.

Based in London, BC Partners manages $40 billion in assets across the healthcare, financial services and industrials sectors in Europe and North America.

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Reporting by Krystal Hu and Chibuike Oguh in New York Editing by Matthew Lewis

Our standards: The Thomson Reuters Trust Principles.

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