Presidio Buys Coleman, Creates $1.1 Billion VAR Powerhouse2:54 PM EST Thu. Jan. 14, 2010
Presidio (VAR500 rank 91) bought Coleman Technologies earlier this month as part of its strategy to increase its geographic reach and to further strengthen its engineering practice, according to Presidio's Joel Schleicher, chairman and CEO. The combined companies will create a solution provider with more than $1.1 billion in revenue.
"From an engineering standpoint, especially, it makes sense because of Coleman's deep engineering expertise," said Schleicher.
The deal adds to Presidio's established market presence in Florida, Georgia and Oklahoma as well as the public sector, while accelerating the solution provider's approach to the Midwest, including Ohio, Illinois and Indiana, as well as Texas, Tennessee, the Carolinas and Alabama. The merger also significantly strengthens Presidio's current capabilities in contact center and managed services.
"Coleman's contact center software practice is more vibrant than ours," noted Schleicher. He also noted that Coleman has several unique capabilities in its Federal Systems and Electronic Systems groups, with solutions ranging from hardened communications devices to mobile communications solutions to covert GPS tracking devices.
Presidio is a company built on strategic acquisitions, and Schleicher said it will continue to acquire companies that complement the markets in which Presidio is already a strong player.
"We are looking for the opportunity to acquire skillsets," he said. "With Coleman, it makes us stronger in some geographies and accelerates our footprint in others. We work hand in glove, because 60 percent of our companies were similar. The other 40 percent is additive. We aim to take what we have in revenue and double it within four years."
The recession has caused some customers to delay deployment decisions, Schleicher said, but he also noted, "others look at [these times] as a way to get ahead of the competition. So we are doing more complex and less fulfillment-type work for existing customers."