Following Bregal Milestone’s original investment in 2018, Arkphire has further expanded its international operations and grown to become a €160m business with more than 250 employees and serving customers across more than 90 countries. The transaction with Presidio represents a further consolidation of scale in the IT services market, and creates a global IT supply and services business.

Reed Smith also advised the incumbent management team of Arkphire on the investment aspects of the transaction.

The Reed Smith team was led by corporate partners Philip Taylor and Sam Webster, with support from corporate associates James Hatchard and Ned Purcell, tax partner Caspar Fox and tax associates Tom Baxter and Emma McGrory, and competition partner Ross Mackenzie.

Completion of the transaction is subject to customary regulatory approvals.