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Presidio, Inc. announces final agreement to be acquired by BC Partners

NEW YORK, August 14, 2019 (GLOBE NEWSWIRE) – Presidio, Inc. (NASDAQ: PSDO) (along with its subsidiaries “Presidio” or “Company”), a number one North American provider of IT options for infrastructure, cloud and safety options to create agile, secure infrastructure platforms for business and public sector clients right now introduced a final deal to buy cash from a leading worldwide funding agency BC Partners in a cash deal value $ 2.1 billion, including Presidio's internet debt.

Beneath the agreement, Presidio shareholders will obtain $ 16.00 in money for every Presidio share they maintain. The purchase worth represents a premium of 21.three% of the closing worth of the Presidio share at $ 13.19 on August 13, 2019 and a premium of 18.3% above the company's 60-day weighted common share worth that led to this announcement. The Board of Administrators of Presidio unanimously accredited the agreement with BC Partners and recommends that Presidio shareholders vote in favor of the transaction.

"We believe this transaction will provide immediate and significant value to Presidio's shareholders, while providing us with a partner who can increase strategic and operational expertise in our business by focusing on implementing a long-term strategy," commented Presidio CEO Bob Cagnazzi. in recent times, turn out to be a number one designer, developer. , the deployment and management of agile and secure IT infrastructures that ship real goodwill to hundreds of economic and public sector entities across the USA, ”stated Fahim Ahmed, BC Partners' leading trading associate. “We look forward to supporting the company in its next phase of growth.”

“Presidio clearly matches the funding priorities. Its market advantages from international progress as IT methods and networks turn into more complicated. It is nicely placed to be the chief of a fragmented business providing the chance for further enlargement. We’re excited to work with Bob and his staff to help future business progress, "stated Raymond Svider, Associate and Chairman of BC Partners.

SHIPPING INFORMATION

The transaction will be carried out underneath normal phrases, including approval of the majority shareholders of the Presidio widespread inventory. termination or early termination beneath the Hart-Scott-Rodino Antitrust Act of 1976, and different required regulatory approvals, together with CFIUS approval AP VIII Aegis Holdings, LP, a subsidiary of Apollo International Administration, LLC, a subsidiary of mutual funds managed by Apollo International Administration, LLC % Of Presidio's inventory, has entered into a voting agreement with BC Partners to agree, amongst other issues, that it’ll vote in its curiosity in Presidio for the merger and towards any competing trade, assa The Presidio Board of Directors additional recommends that Presidio shareholders vote in favor of the merger. .

Presidio expects to proceed paying its regular quarterly dividend of $ 0.04 per share on the time of the transaction.

The events anticipate the transaction to be completed in the final quarter of 2019. Upon completion of the transaction, Presidio will grow to be a privately owned firm, and its majority will not be listed on the NASDAQ inventory market.

Beneath the terms of the Final Merger Agreement, the Presidio Board of Directors and Advisors might actively initiate, solicit, and contemplate various acquisition proposals inside a 40-day "go shop" period beginning with the final agreement. The Presidencies have the correct to terminate the merger agreement in order to approve a better proposal underneath the terms of the merger agreement. There can be no assurance that this process will lead to a greater proposal, and Presidio doesn’t intend to disclose the development of this bidding process until the Presidio Board comes to a decision requiring additional disclosure.

Absolutely binding debt financing is offered by Citi, JPMorgan Chase Bank, NA and RBC Capital Markets.

LionTree Advisors acts as financial advisor to Presidio, and Wachtell, Lipton, Rosen & Katz act as its legal counsel. Citi, J.P. Morgan Securities LLC and RBC Capital Markets act as monetary advisors and Kirkland & Ellis LLP act as BC Partners' lawyer.

PRESIDIO INFORMATION

Presidio is a leading North American IT options supplier targeted on offering digital infrastructure, cloud and security solutions for agile, secure infrastructure platforms for business and public sector clients. We ship this know-how know-how by means of an entire, lifecycle model of professional, managed and help providers including technique, consulting, implementation and design. By taking a deep understanding of how our clients outline success, we assist them leverage know-how, simplify the complexity of their IT system, and optimize their surroundings at the moment to enable future purposes, consumer experiences, and income fashions. As of June 30, 2018, we’ll be serving approximately eight,000 mid-sized, giant, and public organizations throughout a variety of industries. About 2,900 Presidio professionals, including greater than 1,600 technical engineers, work in additional than 60 workplaces in america with a singular, local supply model mixed with a $ 2.eight billion business chief nationwide. We’re keen about delivering outcomes to our clients and offering the very best high quality of service within the business.

BC PARTNER INFORMATION

BC Partners is a number one international funding agency with greater than $ 22 billion in belongings, personal loans and actual estate. Founded in 1986, BC Partners has been lively in creating the European company marketplace for three many years. At the moment, BC Partners executives operate out there as a single entity via workplaces in North America and Europe. Since its establishment, BC Partners Personal Fairness has made 111 venture capital investments in corporations with a complete value of EUR 135 billion and is at present investing in its tenth venture capital fund. For extra info, go to www.bcpartners.com.

FORWARD STATEMENTS

This discover incorporates "forward-looking statements" inside the which means of Part 27A of the Securities Act of 1933, as amended. in accordance with the Securities Market Act of 1934 (as amended), meant to cover the protected harbor created by such elements and different relevant legal guidelines. When an organization expresses or doubts about future events or outcomes, such expectation or perception is expressed in good religion and is believed to be affordable. Nevertheless, such statements are topic to risks, uncertainties, and different elements which will trigger actual results to materially differ from future results expressed, predicted, or implied in forward-looking statements. Ahead-looking statements typically refer to our expected future enterprise and monetary efficiency and monetary place, and sometimes include phrases comparable to "anticipate", "intend", "plan", "intend", "intend", "estimate", "wait," " Consider ”,“ goal ”,“ indicative ”,“ tentative ”or“ potential ”. For the purposes of this Communication, forward-looking statements might embrace, without limitation, statements concerning the potential benefits of the proposed acquisition, the anticipated progress price, plans, aims, expectations, and expected timetable for completion of the acquisition. Dangers and uncertainties embrace, but usually are not restricted to, the dangers related to the achievement of the terms of the acquisition (including failure to acquire the required regulatory approvals) inside the anticipated timeframe or at all required to get hold of the approval of Presidio's shareholders; risks related to loan financing preparations; trade disruptions that make it troublesome to keep business and operational relationships; vital transaction costs; unknown money owed; the danger of litigation and / or regulatory action related to the proposed acquisition; other business results, together with these of an industrial, market, economic, political or regulatory nature; future foreign money and interest rates; modifications in tax and other legal guidelines, laws, rates, and policies; future enterprise mixtures or disposals; aggressive developments; and different dangers and uncertainties discussed in the Presidio Archives with the SEC, together with the "Danger Elements" and "Forward-Wanting Statements Statements for the Future Statements" section of the newest Annual Report of the Presidio and subsequent archived types 10-Qs. The Company shall haven’t any obligation to disclose any modifications to "forward-looking statements" together with, with out limitation, prospects, mirror occasions or circumstances after this submitting date, or mirror sudden occasions, besides as might be required by relevant securities legal guidelines. Buyers shouldn’t assume that the absence of an replace of a previously revealed "Ahead-Wanting Assertion" implies a reconfirmation of that Assertion. Continuous reliance on "forward-looking statements" is the buyers' duty.

IMPORTANT INFORMATION ABOUT THE TRANSACTION AND WHERE IT IS FINDED

In reference to a proposed transaction between the Company and BC Partners, the Firm will submit an initial proxy to the USA Securities and Change Fee ("SEC"). ("Proxy Statement"). The company intends to mail its shareholders a final proxy relating to the transaction. COMPANY INVESTORS AND SECURITY OWNERS CONTINUE TO READ THE BUILDING STATEMENT AND OTHER DOCUMENTS WHICH MAY BE OBTAINED, OBTAINED, ADDRESSED, INCLUDED AND INCLUDED. Buyers and holders of securities might get hold of free copies of the proxy and different documents (if obtainable) deposited with the SEC by the Company by means of the website maintained by the SEC at www.sec.gov. In addition, buyers and securities holders might get hold of free copies of documents submitted to the SEC by the Company on the Investor Relations part of the Company's web site at http://investors.presidio.com or by contacting the Firm's Investor Relations. at buyers@presidio.com or by calling 866-232-3762.

PARTICIPANTS IN THE COOPERATION

The Presidio and sure of its administrators, CEOs, and staff might be thought-about to be concerned within the search for proxies beneath the proposed proposal. transaction. Info relating to persons who might be deemed to be shareholders of the collaborating firm in reference to the transaction underneath SEC guidelines, including an outline of their respective direct or oblique interests in securities ownership or in any other case, is contained in the proxy statement described above and submitted to the SEC. Further details about the company's administrators and CEOs can also be contained within the firm's 2018 Annual Common Meeting's power of lawyer, filed with the SEC on October 2, 2018, or within the company's annual report for the yr ended on Type 10-Okay. June 30, 2018, filed with the SEC on September 6, 2018. These paperwork can be found totally free as described above.

Source: Presidio, Inc.

CONTACT

Investor Relations Contact:
Ed Yuen
866-232-3762
buyers@presidio.com

Media Relations Contact:

Johnson
626-818-9287
Pro-bcpartners@prosek.com

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