Exhibit 99.1
Presidio, Inc. Announces Amendment of Merger Agreement with BC Partners to Increase Consideration to $16.60 per share
NEW YORK, Sept. 25, 2019 (GLOBE NEWSWIRE) As previously announced, on August 14, 2019, Presidio (NASDAQ: PSDO) entered into an Agreement and Plan
of Merger (the Merger Agreement) to be acquired by funds advised by BC Partners in an all-cash transaction valued at approximately $2.1 billion, including Presidios net debt.
Under the terms of the Merger Agreement, the Presidio Board of Directors (the Presidio Board) and advisors were permitted to actively initiate,
solicit and consider alternative acquisitions proposals from third parties during the go shop period which ended at 11:59 p.m. New York time on September 23, 2019.
Presidio today announced that in response to an alternative acquisition proposal received during the go-shop period,
the Company and BC Partners agreed to an amendment to the Merger Agreement to increase the per-share consideration payable to Presidios stockholders to $16.60 per share from $16.00 per share, a 3.75%
increase.
The Presidio Board continues to recommend that Presidio stockholders vote in favor of the transaction with BC Partners and the amended merger
agreement.
LionTree Advisors is acting as financial advisor to Presidio, and Wachtell, Lipton, Rosen & Katz is acting as its legal counsel.
ABOUT PRESIDIO
Presidio is a leading North American IT
solutions provider focused on Digital Infrastructure, Cloud and Security solutions to create agile, secure infrastructure platforms for commercial and public sector customers. We deliver this technology expertise through a full life cycle model of
professional, managed, and support services including strategy, consulting, implementation and design. By taking the time to deeply understand how our clients define success, we help them harness technology advances, simplify IT complexity and
optimize their environments today while enabling future applications, user experiences, and revenue models. As of June 30, 2019, we serve approximately 7,900 middle-market, large, and government organizations across a diverse range of
industries. Approximately 2,900 Presidio professionals, including more than 1,600 technical engineers, are based in 60+ offices across the United States in a unique, local delivery model combined with the national scale of a $3.0 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.
FORWARD-LOOKING STATEMENTS
This communication contains
forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor
created by such sections and other applicable laws. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.
However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements
often address our expected future business and financial performance and financial condition, and often contain words such as anticipate, intend, plan, will, would, estimate,
expect, believe, target, indicative, preliminary, or potential. Forward-looking statements in this communication may include, without limitation: statements about the potential
benefits of the proposed acquisition, anticipated growth rates, Presidios plans, objectives, expectations, and the anticipated timing of closing the acquisition. Risks and uncertainties include, among other things, risks related to the
satisfaction of the conditions to closing the acquisition (including the failure to obtain necessary regulatory approvals) in the anticipated timeframe or at all, obtaining the requisite approval of the stockholders of Presidio; risks related to the
debt financing arrangements; disruption from the transaction making it more difficult to maintain business and operational relationships; significant transaction costs; unknown liabilities; the risk of litigation and/or regulatory actions related to
the proposed acquisition; other business effects, including the effects of industry, market, economic, political or regulatory conditions; future exchange and interest rates; changes in tax and other laws, regulations, rates and policies; future
business combinations or disposals; competitive developments; and other risks and uncertainties discussed in Presidios filings with the SEC, including the Risk Factors and Cautionary Statements Concerning Forward-Looking
Statements sections of Presidios most recent annual report on Form 10-K and subsequently filed Form 10-Qs. The Company does not undertake any obligation to
release publicly revisions to any forward-looking statement, including, without limitation, outlook, to reflect events or circumstances after the date of this presentation, or to reflect the occurrence of unanticipated events, except as
may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued forward-looking statement constitutes a reaffirmation of that statement. Continued reliance on
forward-looking statements is at investors own risk.
IMPORTANT INFORMATION ABOUT THE TRANSACTION AND WHERE TO FIND IT
In connection with the proposed transaction between the Company and funds advised by BC Partners, the Company filed with the U.S. Securities and Exchange
Commission (the SEC) a preliminary Proxy Statement of the Company (the Proxy Statement) with the SEC on September 10, 2019. The Company plans to mail to its shareholders the definitive Proxy Statement in connection with
the transaction. INVESTORS AND SECURITY HOLDERS OF THE COMPANY ARE URGED TO READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT
THE COMPANY, BC PARTNERS, THE TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the Proxy Statement and other documents (when available) filed with the SEC by the Company through the website
maintained by the SEC at www.sec.gov. In addition, investors and security holders will be able to obtain free copies of the documents filed with the SEC by the Company in the Investor Relations section of the Companys website at
http://investors.presidio.com or by contacting the Companys Investor Relations at investors@presidio.com or by calling 866-232-3762.