Cerberus Capital Management, L.P. (“Cerberus”), a global leader in alternative investing, June 01 announced that one of its affiliates has acquired a majority stake in Red River Technology (“Red River” or the “Company”) from a group including the Company’s founding shareholders and Acacia Partners.
Red River is a leading provider of technology solutions and managed services with mission-critical expertise in security, networking, data center, collaboration, mobility and cloud applications. For more than 25 years, the Company has been a trusted partner to federal government agencies, state and local government and education (“SLED”) customers, and commercial businesses. In partnership with Cerberus, Red River will be able to build on its market-leading platform through continued investments in its capabilities and strategic acquisitions.
Certain Red River shareholders will retain a minority equity stake in the business, and Co-Founder Rick Bolduc will continue to serve as a member of the Board of Directors. Alan Dumas, Red River’s Chief Executive Officer, will continue to lead the Company and its operations, alongside the existing management team, and will join the Board.
“The support of a world-class partner like Cerberus is a reflection of Red River’s industry leadership and an endorsement for our potential,” said Alan Dumas, Chief Executive Officer of Red River. “Together with Cerberus, we will be able to invest in expanding our capabilities, further drive operational excellence, and pursue strategic acquisitions to better serve our customers. We are confident that this partnership will launch an exciting next chapter of growth for Red River and our team members.”
Michael Sanford, Senior Managing Director at Cerberus, commented: “Digital transformation and modernization are critical to the success of government agencies and businesses. Red River is a trusted partner that is well-positioned to meet the growing demand for integrated technology solutions and services. We look forward to working alongside Red River’s talented team to further scale its market-leading platform through strategic initiatives and investments.”
Patrick Moriarty, Managing Director at Cerberus, added, “Beyond its commitment to customers, we have been extremely impressed with Red River’s dedication to its communities. We are excited to support their efforts as they continue to make a positive and lasting impact on students, veterans, and communities in need.”
Kirkland & Ellis served as legal advisor and Wells Fargo Securities, LLC served as exclusive financial advisor to Cerberus. Holland & Knight LLP served as legal advisor and Guggenheim Securities, LLC served as financial advisor to Red River.
Media Contacts
Cerberus
Brooke Jaye / Akash Lodh
+1-914-715-3247 / +1-202-758-4263
Cerberus-SVC@sardverb.com
Red River
Ed Levens
+1-703-880-9742
ed.levens@redriver.com
