SOURCE: American Securities
April 04, 2011 10:21 ET
American Securities Completes Investment in Presidio Inc.
NEW YORK, NY--(Marketwire - April 4, 2011) - American Securities LLC, a New York-based private equity firm, today announces that, in partnership with management, it has completed a significant investment in Presidio Inc., a leading professional and managed services firm at the forefront of creative IT infrastructure solutions in data center/virtualization; collaboration -- including contact center; security and mobility. Terms of the transaction were not disclosed.
With offices throughout the eastern United States, Presidio generates annual revenues in excess of $1.3 billion. They serve clients in the enterprise, commercial, SLED and Federal government space in partnership with a select number of leading OEM partners. Presidio holds the highest level certifications from Cisco, EMC, VMware, NetApp, HP, IBM, and Microsoft.
"We are in a dynamic space and excited by the continued opportunity ahead for growth," said Joel A. Schleicher, the Founder, Chairman and CEO of Presidio. "Further, we are pleased that the investment by American Securities affirms our strategy, leadership and execution since our founding in 2004, and we are thrilled to be partnering with them as we continue to develop and expand our client relationships."
Commenting on the transaction, Kevin S. Penn, a managing director of American Securities, said, "We are delighted to formally begin our partnership with Joel and the Presidio leadership team. Long recognized by its partners for bringing business value to clients, Presidio is committed to helping clients transform the latest innovations into meaningful business productivity. We look forward to joining with them as they continue to grow their business and create shareholder value."
About American Securities
Headquartered in New York with an office in Shanghai, American Securities LLC is a U.S. private equity firm that invests in market-leading companies in North America with annual revenues generally ranging between $100 million to $1 billion. Investments are funded from more than $6 billion of committed capital. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of his family's Sears, Roebuck & Co. fortune. More information on American Securities LLC can be found at www.american-securities.com.