Irish headquartered IT solutions and next generation services provider, Arkphire, today announced it is to be fully acquired by Presidio, a $3bn North American IT solutions provider. The deal represents a further consolidation of scale in the ICT services market creating a global IT supply and services business. Arkphire will support Presidio as a strategic platform to drive business expansion across both Europe and Asia Pacific.
Commenting on the acquisition, Paschal Naylor, chief executive at Arkphire said
“This announcement is a hugely exciting development for Arkphire, and testament to the transformation the business has undergone the last 2 years during Bregal Milestone’s partnership. Working with the team at Bregal Milestone has accelerated our growth, establishing Arkphire’s presence in international markets and broadening our service offering. They’ve been excellent partners to the management team throughout, including invaluable guidance through the sale process culminating in an excellent outcome with Presidio.”
The acquisition will mark another major milestone for Arkphire since Paschal Naylor led a management buyout in 2009. The business has grown to €160m revenue with more than 250 employees and serving customers across more than 90 countries. In 2018, Bregal Milestone, a European growth capital firm, acquired a significant stake in Arkphire and supported management’s growth strategy in domestic and international markets. Since the investment, Arkphire has broadened its offering with the acquisition of leading cyber security services provider, Trilogy Technologies, and expanded in Asia Pacific through the acquisition of Singapore-based Generic Technologies. The deal will see Bregal Milestone exit its interest in Arkphire, the firm’s first exit from its €495m pan-European fund.
Cyrus Shey, Managing Partner of Bregal Milestone, commented:
“Arkphire is a true Irish success story, and this transaction marks another milestone in the company’s remarkable journey. It’s been fantastic to work with Arkphire’s leadership team over the last few years, and we’re proud of what the company has accomplished during Bregal Milestone’s partnership. We wish Arkphire every success in the future as they leverage Presidio’s platform to deliver greater value to customers and continue their exciting growth trajectory.”
The change in ownership at Arkphire will have no immediate impact on day-to-day business operations. The senior management, including its co-founder and chief executive, Paschal Naylor, will remain in their roles.
Arkphire and Bregal Milestone were advised on the acquisition by William Blair (corporate finance) and Reed Smith (legal). Completion of the transaction is now subject to approval from the European and Irish competition authorities.
Arkphire is a leading IT product procurement and IT services company, serving customers internationally across more than 90 countries. Arkphire provides integrated technology solutions that span desktops, networking, cyber security, cloud and data centre, enabling the digital workspace and supporting businesses on their digital transformation journey.
Following its acquisition of Trilogy Technologies in 2020, Arkphire is now positioned as the largest and fastest growing Irish headquartered IT procurement and IT managed services business.
Arkphire Group has an unrivalled network of partnership accreditations with leading global IT vendors and is a Check Point 4-Star, Cisco Gold, Citrix Platinum, Dell Technologies Titanium, HP Platinum, IBM Gold, Lenovo Platinum and Microsoft Gold Partner. Arkphire is also an Apple Authorised Enterprise Reseller (AAER). Arkphire group employs over 250 people and generates revenues of over €150m.
About Bregal Milestone
Bregal Milestone is a growth capital firm managing a €495 million pan-European fund dedicated to making investments in high-growth European companies. The firm provides growth capital and strategic assistance to support market-leading companies in the technology and technology-enabled services sectors. Bregal Milestone is part of Bregal Investments, who have invested over €15 billion to date.
Presidio is a leading IT services and solutions provider that helps customers connect IT of today to IT of tomorrow. Our deep technology expertise across cloud, security, modern IT infrastructure and networking underpin our ability to help customers accelerate time-to-outcome via agile digital platforms. We deliver this technology expertise through a full life cycle model of professional, managed, and support services including strategy, consulting, implementation and design.
As of June 30, 2020, we served approximately 7,300 middle-market, large, and government organizations across a diverse range of industries. Approximately 2,800 Presidio professionals, including approximately 1,600 technical engineers, are based in over 57 offices across the United States in a unique, local delivery model combined with the national scale of a $2.8 billion-dollar industry leader. We are passionate about driving results for our clients and delivering the highest quality of service in the industry. For more information visit: www.presidio.com
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