NEW YORK, Feb. 2, 2015 (GLOBE NEWSWIRE) -- Presidio Holdings, Inc. ("Presidio" or the "Company") announced that effective today, the previously announced acquisition of the Company by funds affiliated with Apollo Global Management, LLC (NYSE:APO) (together with its consolidated subsidiaries, "Apollo") from affiliates of American Securities, LLC has been completed. In accordance with the terms of the definitive agreement, which was announced on December 1, 2014, funds affiliated with Apollo have acquired all outstanding common stock of Presidio. Going forward Presidio Holdings, Inc. will continue to do business as Presidio. Terms of the transaction were not disclosed.
"We are pleased to complete the acquisition and begin moving forward with a new partner. We believe Apollo is a great partner for Presidio, and we are excited about the opportunities this will bring us to continue to scale and grow our business," commented Bob Cagnazzi, Presidio's Chief Executive Officer. "We are in an excellent position to build on our industry leadership in advanced IT solutions and services."
Matthew Nord, Partner at Apollo, said, "Presidio is a world-class business led by an outstanding management team that has consistently delivered for its partners and clients. We are eager to support the Company in its growth initiatives and strategic investment opportunities."
LionTree Advisors served as financial advisor to Apollo. Wachtell, Lipton, Rosen & Katz served as legal counsel to Apollo. Barclays Capital and Credit Suisse Securities served as financial advisors to Presidio. Weil, Gotshal & Manges served as legal counsel to Presidio.
Presidio is the leading provider of professional and managed services for advanced IT Infrastructure solutions. By taking the time to deeply understand how our clients define success, we architect enduring technology solutions that address their business needs. Our approach blends the credibility to deliver practical results today, with the creativity to drive the business visions of tomorrow. More than 2,400 Presidio IT professionals, 1,500 of which are engineers with over 5,000 industry leading certifications, are based in 50+ offices across the US. For more information visit: www.presidio.com.
About Apollo Global Management, LLC
Apollo is a leading global alternative investment manager with offices in New York, Los Angeles, Houston, Toronto, London, Frankfurt, Luxembourg, Singapore, Mumbai and Hong Kong. Apollo has assets under management of approximately $164 billion as of September 30, 2014, in private equity, credit and real estate funds invested across a core group of nine industries where Apollo has considerable knowledge and resources. For more information about Apollo, please visit www.agm.com.
For investor inquiries regarding Apollo:
Apollo Global Management, LLC
Gary M. Stein, 212-822-0467
Head of Corporate Communications
Noah Gunn, 212-822-0540
Investor Relations Manager
For media inquiries regarding Apollo:
Rubenstein Associates, Inc. for Apollo Global Management, LLC
Charles Zehren, 212-843-8590
Media Contact for Presidio:
Chief Marketing Officer
CONTACT: Mike French Chief Marketing Officer 469-549-3800 Mike.French@presidio.com