North American IT solutions provider Presidio, backed by private equity firm BC Partners, is acquiring Arkphire Group, an IT product procurement and managed IT services provider (MSP) based in Dublin, Ireland. Presidio will leverage the deal to expand into Europe and the Asia Pacific regions, the buyer said.
The acquisition is expected to close in the first quarter of 2021. Financial terms were not disclosed.
Presidio Acquires Arkphire: More Details
Arkphire Group has roughly 250 employees and generates revenues of over €150m (US$178 million, roughly). The company's key partners include Apple, Check Point Cisco Systems, Citrix Systems, Dell Technologies, HP Inc,, IBM Gold, Lenovo and Microsoft.
Arkphire's technology expertise spans end-user compute, networking, cyber security, cloud and data center services. Arkphire also has M&A experience -- buying two companies in early 2020. The deals involved:
- Generic Technologies, an Apple Authorized Reseller and an Adobe Gold Partner with annual turnover of 9 million Singapore dollars (€5.85 million).
- Trilogy Technologies, an ICT managed services provider in Ireland.
Meanwhile, private equity firm BC Partners has owned Presidio since December 2019. The company has roughly 2,800 employees and 1,600 technical engineers who serve roughly 7,300 organizations.
Presidio has been in active buying mode. The company in August 2020 acquired Coda Global, a cloud consulting specialist in Dallas, Texas. Coda provides cloud migration, cloud-native application development, DevOps, big data enablement, and machine learning with advanced analytics.
Presidio Acquires Arkphire: Executive Perspectives
Commenting on the latest deal, Presidio CEO Bob Cagnazzi said:
“Presidio was attracted to Arkphire by the quality of its portfolio of solutions and services, and the customer-centric culture of excellence that characterized the management team. The acquisition is expected to provide Presidio an opportunity to assimilate Arkphire’s best practices into our own in the US, while providing Presidio a platform to scale our ambitions in Europe and Asia Pacific.”
Added Paschal Naylor, chief executive at Arkphire:
“This announcement with Presidio is great news for Arkphire, our people and our customers, equipping us with the ability to extend our global reach and further evolve our service offering to customers in response to the needs of the market. We are in the business of enablement. Being part of the enlarged Presidio family will open up many new possibilities and provide us with a natural partner to support the IT needs of our customers, regardless of where they want to do business.”