BC Partners is looking to exit IT company Presidio in a deal more than $4bn including debt, Reuters reported, quoting two people familiar with the matter.
The buyout firm bought into the then Nasdaq-listed business in a $2.1bn deal two years ago.
New York-based Presidio has benefited from a surge in demand for IT services during the COVID-19 pandemic. It generated $3.1bn in revenue and had earnings before interest, taxes, depreciation and amortization of more than $350m last year.
The company has been in several private equity hands since its formation in 2003. American Securities acquired it in 2011 and sold it to Apollo Global Management after three years for about $1.3bn.
Read more: AltAssets
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.