BC Partners: Close to ‘mammoth’ sale of Presidio for over $4 billion

BC Partners is considering the sale of Presidio, according to an exclusive Reuters report, in a deal that, if it goes ahead, would value the IT company at possibly more than $4 billion.

Specifically, according to the agency’s report citing two people with knowledge of the matter, BC Partners is working with an investment bank on the sale process for New York-based Presidio.

According to the sources, who requested anonymity, in 2021 Presidio had revenue of $3.1 billion with EBITDA of more than $350 million.

A spokesperson for BC Partners declined to comment for the report, while Presidio did not immediately respond to a request for comment from the agency, Reuters points out.

Presidio provides cloud-based security technologies to a variety of organizations, from government agencies to enterprises such as Amazon, Cisco Systems, Dell Technologies and Intel, and overall has approximately 8,000 customers worldwide.

Like many tech companies, Presidio benefited from a spike in demand for IT services during the pandemic as companies invested to adapt to the telecommuting environment and strengthen their cyber security capabilities.

Following ownership changes since its inception in 2003, Presidio was acquired by Apollo Global Management in 2014.

Apollo took Presidio public in 2017, and BC Partners took it private again in 2019 in a $2.1 billion deal.

Under the ownership of BC Partners, Presidio has acquired several smaller rivals, including Irish IT consultancy Arkphire and US-based ROVE.

It is recalled that earlier today it was known that BCPartners is proceeding with another mega deal, acquiring the majority of the share capital held by the 3i Group in Havea.

The value of this transaction for Havea is estimated to exceed 1 billion euros, while its completion is expected at the end of the year.