Millstein & Co. Acquisition Accelerates DLT Solutions Strategy to Pursue Business in the Public Sector
HERNDON, Va. — (BUSINESS WIRE) — January 30, 2015 — DLT Solutions, a leading value-added reseller in government information technology (IT) software and services, today announced that it has been acquired by Millstein & Co. LP, a diversified financial services and merchant banking firm whose private equity business focuses on control-oriented investments in the areas of financial services, technology, industrial, consumer and technology-enabled business services.
DLT Solutions has just come off of a record year in 2014 with continued success across all of their divisions, most notably within its cloud business and expansion of major contract vehicle awards including Internet2 NET+, U.S. Communities, SEWP-V and a Department of Defense-wide Blanket Purchase Agreement for Red Hat products and services, as well as noteworthy enterprise license agreements/multi-year wins at the Department of the Navy, NASA and Social Security Administration.
As part of the acquisition, Millstein & Co. operating partner Alan Marc Smith will assume president and CEO responsibilities at DLT Solutions. Smith comes to the Company with more than 25-years of industry experience, and was formerly CEO at Westcon Group, a $4B+ value-added distributor of unified communications, network infrastructure, data center and security solutions. Current president and CEO Rick Marcotte will become vice chairman of the board and will remain engaged as a consultant to the company. DLT Solutions is also expected to draw from the experience of the senior management team at Millstein who have worked with the U.S. Treasury department, including the Internal Revenue Service, the Office of Management and Budget, the Small Business Administration and the Pension Benefit Guaranty Corp.
Michael Duran, partner of Millstein & Co., said, Under the leadership of Rick Marcotte and his management team, DLT Solutions has grown into a leading value-added reseller to the public sector. We look forward to working with Rick and Alan Smith to continue the legacy and further enhance the Companys vendor and customer service capabilities.
Simultaneous with the Millstein & Co. acquisition, existing DLT Solutions executives (Marcotte, Craig Adler, EVP and CFO, and Brian Strosser, EVP of sales and marketing), have also made equity investments into the company and have become minority shareholders.
DLT Solutions is a recognized leader in the public sector value-added reseller segment. We are very bullish on the continued expansion and adoption of IT, especially software, across this marketplace, said Smith. We are excited to work with the Companys highly-skilled management team and their extremely talented employees to continue and accelerate their impressive performance well into the future.
I am personally very pleased and proud at what DLT Solutions has been able to accomplish over my 10+ years as president and CEO. This is the best team of professionals in this industry bar none, said Marcotte. I fully expect the Millstein & Co stewardship to continue to aggressively pursue our strategy to grow our cloud capabilities, expand our customer relationships, and deliver top-notch technical services, sales, marketing and procurement efficiency to our public sector customers and our vendor partners.
DLT Solutions was represented in this transaction by martinwolf.
About DLT Solutions
For more than twenty years, DLT Solutions has been the IT software and solutions provider of choice for federal, state, local government and education customers. By hand selecting its manufacturer partners including Amazon Web Services, Autodesk, Google, NetApp, Oracle, Dell Software, Red Hat, Solarwinds and Symantec, DLT fulfills its mission to be a value-added reseller of only the best software and hardware products and services, as well as a premier provider of technical support, through its many government contracts. The company specializes in carefully-selected solution areas Cloud Computing, Data Center Consolidation, Geospatial Data Systems and Computer-Aided Design for transportation, utilities and manufacturing. For more information or to place an order, contact DLT Solutions at 800-262-4358; email firstname.lastname@example.org; or visit www.dlt.com. Also, on LinkedIn and Twitter ( @DLTSolutions).
About Millstein & Co.
With offices in New York and Washington, D.C., Millstein & Co. is a diversified financial services and merchant banking firm. Millstein & Co. has extensive public sector expertise both in the U.S. and abroad. The firms private equity business focuses on making control-oriented investments in financial services, technology, industrial, consumer and technology-enabled business service companies in North America. Integral to our investment approach is our partnership with exceptional operating executives who help us identify, validate and manage our investments. Millstein works with operating partners to leverage its investment professionals' operating and transaction experience and provide strategic and operational guidance, which leads to long-term value creation in its portfolio companies and investments.
WilkinsonShein for DLT Solutions
Leah Wilkinson, 703-907-0010