Arkphire, the IT procurement and services company led by Paschal Naylor, is selling up to American peer Presidio, subject to regulatory clearances.
Arkphire has been bulking up in recent years, including the takeover of Trilogy Technologies a year ago.
Naylor said that Arkphire will support Presidio as a strategic platform to drive business expansion across both Europe and Asia Pacific.
He added: “This is a hugely positive development 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 their changing needs.
“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.”
In Association with
Presidio was acquired by private equity giant BC Partners in August 2019, in an all-cash transaction valued at c.$2.1bn, including Presidio’s net debt of $720m..
Presidio’s $3bn IT solutions and services business has a local presence in over 57 locations across the United States serving c.7,300 customers.
Presidio CEO Bob Cagnazzi commented: “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.”
Naylor established Arkphire in 1979, and in the year to June 2019 the company had turnover of €126m. The company indicated that annual revenue currently runs to c.€160m
In 2018, private equity firm Bregal Milestone invested in Arkphire prior to the company’s acquisition of Generic Technologies in Singapore.
The change in ownership at Arkphire will have no immediate impact on day-to-day business operations, the company stated. No consideration was disclosed and it would seem that there’s an earnout element to the deal, as Naylor is staying the with business.
According to Moody's, the US buyer is paying $142m (€120m) to grab a share of Ireland's managed services and procurement market.
Photo: Paschal Naylor (left) with Arkphire chairman Paul Nannetti . (Pic Susan Jeffries)
