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Presidio Acquires BlueWater Communications and Welcomes Bob Cagnazzi as Chief Executive Officer(February 29, 2012)
GREENBELT, MD -- (Marketwire) -- 02/29/12 -- Presidio, Inc., a leading provider of professional and managed services for advanced IT solutions, announced today that it has acquired BlueWater Communications LLC, a provider of high-performance, holistic IT infrastructure solutions to growing companies. The senior executive team at Presidio also welcomed industry veteran Bob Cagnazzi, CEO of BlueWater, as the new Chief Executive Officer of Presidio, Inc. effective immediately. Presidio is owned by American Securities LLC and management.
Presidio is one of the largest national advanced IT solution providers. It recently also completed the acquisition of INX, Inc. on December 30, 2011. The company currently employs over 2,000 IT professionals operating out of more than 50 offices across the United States providing clients with unparalleled local access to world-class consulting, engineering and technical resources.
Presidio and BlueWater both deliver innovative, purpose-built solutions that address the entire technology lifecycle and enable significant gains in business performance. Both companies are leaders in unified communications, network infrastructure and data center engineering. Together, the two companies offer a full suite of on-premise and cloud-based managed services offerings associated with those technologies.
"We are pleased to welcome the BlueWater team to the Presidio family. BlueWater is an outstanding company that has achieved great success in the extremely competitive metropolitan New York area. Combining BlueWater's and Presidio's capabilities will enable the company to expand its portfolio of advanced IT solutions and managed services and provide even greater value to its clients," explained Kevin Penn, a managing director of American Securities and Presidio's Chairman. "We are delighted that Bob Cagnazzi will assume the role of CEO of Presidio. Bob's leadership skills, entrepreneurial spirit and experience in building high-performance teams will be invaluable as we continue to execute our aggressive growth strategy."
"We are extremely excited about joining the Presidio team," stated Bob Cagnazzi, the newly appointed CEO of Presidio. "Presidio and BlueWater have similar business models and cultures. Combining our organizations will enable us to accelerate our growth and build a company that is truly unique in the marketplace. This combination is a win for our employees, partners and, most importantly, our clients."
Presidio has a history of acquiring great companies. Over the last seven years, Presidio has brought together regional leaders such as Ficomp, Inc., The Presidio Corporation, Networked Information Systems, LLC, Solarcom Holdings, Inc., Coleman Technologies, Inc. and INX, Inc. Presidio has consistently been one of the fastest growing, privately held companies in the technology industry.
Foros acted as exclusive financial advisor and Sheppard Mullin Richter & Hampton, LLP acted as legal advisor to BlueWater Communications LLC in this transaction. Weil Gotshal & Manges LLP served as legal advisor to Presidio.
About BlueWater Communications LLC
BlueWater is focused on providing high-performance, holistic, cohesive IT infrastructure solutions to growing companies. BlueWater specializes in providing organizations with Full Life Cycle services in Unified Communications, Collaboration & Video, Virtualization, Consolidation & Data Center, and Security solutions to increase productivity and improve business operations. BLUE Managed Service offering provides proactive support and remediation preventing costly downtime, under a flexible contract, utilizing custom technology and industry-standard tools to optimize your IT investment. To learn more about BlueWater, visit www.BlueH2OGroup.com.
Presidio is a leading provider of professional and managed services for advanced IT solutions. Presidio addresses its clients' complete information technology lifecycle -- enabling clients to plan, design, implement, test and operate their technology investments. Presidio's comprehensive portfolio includes data center/virtualization, unified communications/collaboration, security, mobility and contact center technology solutions as well as managed services. Holding the highest industry certifications from partners such as Cisco, EMC, HP, IBM, NetApp, VMware and Microsoft, Presidio is well-positioned to meet the growing needs of organizations migrating to advanced technologies. Presidio also offers clients an extensive suite of financing solutions, including leasing. Presidio is owned by American Securities LLC and management. For more information visit www.Presidio.com.
About American Securities
American Securities is a leading U.S. middle-market private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. Headquartered in New York with an office in Shanghai, American Securities has approximately $9 billion under management and is currently investing from its sixth fund. The firm traces its roots to the family office founded in 1947 by William Rosenwald to invest and manage his share of the Sears, Roebuck & Co. fortune. More information about American Securities can be found at www.american-securities.com.
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