decor decor
"If you just focus on the smallest details, you never get the big picture right."

-Leroy Hood

Millstein & Co. Acquires Atlantix from Presidio

martinwolf Transaction Analysis
Financial Information
  • Not Disclosed

Transaction Facts

  • IT and telecom equipment reseller Atlantix Global Systems announced yesterday that it had been acquired by Millstein & Co., a private equity firm specializing in investments in the financial services, technology, industrial, consumer and technology-enabled business services sectors.
  • Atlantix was previously a component of Presidio, which acquired Atlantix in March 2007 in its acquisition of solution provider Solarcom. Solarcom was one of a series of acquisitions by Presidio that were estimated by CRN at the time as elevating the company to $800 million.
  • Since its acquisition by Presidio, Atlantix has built up its offerings and vendor partnerships, expanding into position 155 on CRN’s SP500 list. Presidio, currently ranked No. 21 on the SP500 list, has been expanding away from product reselling and toward its services offerings.
Focusing on Core Competencies
  • Pruning Non-Core Segments: In a brief statement announcing the transaction, Presidio CEO Bob Cagnazzi stated that “Atlantix’s business is not core to Presidio.” While the reselling business is largely refresh-centric, managed services provides a steady inflow of predictable recurring revenue. 
  • Building Scale in a Fragmented Market: Millstein has experience in the IT solution provider market, having bought DLT Solutions in a martinwolf transaction this January. By providing specialized resources and guidance, Millstein can help Atlantix achieve significant scale and capitalize on what is today a fragmented market.
  • Private Equity Shopping Spree Continues: This deal is the most recent example of increased attention from private equity players on the solution provider space. In addition to the earlier purchase of DLT, this year has seen Kelso acquire Sirius, Columbia Partners acquire MTM, Blackstone and Carlyle submit a bid for NCR, and several other examples of IT supply chain companies turning to private equity to achieve an exit.
For more information about this transaction, click here to read the press release.
martinwolf was not the advisor in this transaction.
previous post Back to Articles next post

03 Feb 2021

Jeff Bezos To Step Down as CEO, Replaced By Cloud Chief

News Update Amazon (NASDAQ:AMZN) CEO Jeff Bezos announced yesterday he was stepping down as CEO effective Q3 2021, to be replaced by Amazon Web Services CEO Andy Jassy. Bezos will remain Amazon’s largest shareholder and transition to an Executive Chairman role, where he will continue to be involved in important strategic decisions. Amazon also announced...

13 Jan 2021

martinwolf Celebrates 24 Years

Dear Clients, Partners, and Friends of martinwolf M&A Advisors, In 1997, gas was $1.22 a gallon in the US, Great Britain handed Hong Kong back to China, and the Dow was at less than 8,000. For me, on this date in 1997 I founded this firm. Almost a quarter century later — and after 180+ transactions,...

11 Jan 2021

Staples Announces Offer to Buy Office Depot

*Financial Information ($USD) Enterprise Value:         $2.1 Billion EV/LTM Revenue:       0.22x EV/LTM EBITDA:        3.76x Transaction Update Staples announced today that it sent the board of directors for Office Depot (Nasdaq: ODP) a proposal to acquire “100% of the issued and outstanding common stock,” a transaction that it expected...