Presidio, Inc. filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) for its initial public offering. There were no pricing details mentioned in the filing but the offering is valued up to $100 million. The company has yet to decide which exchange or under which symbol to list its shares.
The underwriters for the offering are JPMorgan, Citigroup, Barclays, and RBC Capital Markets.
This company is a leading provider of IT solutions to the middle market in North America. Presidio enables business transformation through its expertise in IT solutions, with a specific focus on Digital Infrastructure, Cloud and Security solutions.
Its solutions are delivered through a broad suite of professional services, including strategy, consulting, design and implementation. The firm complements its professional services with project management, technology acquisition, managed services, maintenance and support to offer a full lifecycle model. The services-led, lifecycle model leads to ongoing client engagement.
As of June 30, 2016, Presidio served roughly 7,000 middle-market, large and government organizations across a diverse range of industries.
In the filing the company detailed its finances as:
Our revenue was $1,393 million for the Predecessor period beginning July 1, 2014 and ending February 1, 2015 and $985 million for the Successor period beginning November 20, 2014 and ending June 30, 2015. From November 20, 2014 to February 1, 2015, the Successor had no operations or activities other than the incurrence of transaction costs related to the Presidio Acquisition. Our revenue for our Combined fiscal year ended June 30, 2015 was $2,378 million and increased 14.2% to $2,715 million in our fiscal year ended June 30, 2016. In our fiscal year ended June 30, 2016, our net loss was $3.4 million. In the same period, Adjusted EBITDA and Adjusted Net Income were $211.1 million and $81.2 million, respectively.
Presidio intends to use the net proceeds from this offering to repay its indebtedness, with the remainder going towards working capital and general corporate purposes.