DLT Solutions Continues Growth Path under New Ownership
January 30 2015 - 7:40PM
Business Wire
Millstein & Co. Acquisition Accelerates DLT
Solutions Strategy to Pursue Business in the Public Sector
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 Company’s 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
Company’s 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 sales@dlt.com; 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 firm’s 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 SolutionsLeah Wilkinson,
703-907-0010leah@wilkinsonshein.com