In December 2019, BCEC X successfully completed the take-private of Presidio (NASDAQ:PSDO) (together with its subsidiaries, “Presidio” or the “Company”) – a leading provider of IT solutions in the US. Under the terms of the agreement, Presidio stockholders will receive $16.60 in cash for each share of Presidio common stock they own.
Presidio is a leading North American IT solutions provider delivering Digital Infrastructure, Cloud and Security solutions to create agile, secure infrastructure platforms for commercial and public sector customers. The Company served c. 7,900 customers in FY2019, primarily middle-market corporates across a wide range of industries.
Headquartered in New York, the Company is one of a few scale players in a fragmented market and we believe that its c. 1,700 engineers and 3.3:1 engineer-to-sales headcount ratio provide a deep and differentiated technical expertise that will allow it to grow organically while continuing to execute on its acquisition strategy.