Cerberus Capital Management, L.P. (“Cerberus”), an overall precursor in alternative investing, today proclaimed that one of its affiliates has acquired a lion’s offer stake in Red River Technology (“Red River” or the “Association”) from a group including the Company’s founding shareholders and Acacia Partners.
Red River is a fundamental 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 government associations, state and local government and education (“SLED”) customers, and business associations. In partnership with Cerberus, Red River will really need to expand on its market-driving platform through continued with investments in its abilities and indispensable acquisitions.
Certain Red River shareholders will hold a minority equity stake in the business, and Co-Founder Rick Bolduc will continue filling in as a person from the Board of Directors. Alan Dumas, Red River’s Chief Executive Officer, will stay with on driving the and its operations, nearby the existing management team, and will join the Board. “The assistance of a first rate partner like Cerberus is an impression of Red River’s industry authority and a guaranteeing for our dormant limit,” said Alan Dumas, Chief Executive Officer of Red River. “Alongside Cerberus, we will really need to place assets into expanding our abilities, further drive operational significance, and seek after fundamental acquisitions to all the more probable serve our customers. We are sure that this partnership will dispatch an empowering next segment of improvement for Red River and our team members.”
Michael Sanford, Senior Managing Director at Cerberus, commented: “Progressed change and modernization are critical to the achievement of government workplaces and associations. Red River is a trusted partner that is especially arranged to satisfy the creating need for integrated technology solutions and services. We expect working nearby Red River’s talented team to extra scale its market-driving platform through fundamental initiatives and investments.” Patrick Moriarty, Managing Director at Cerberus, added, “Past its commitment to customers, we have been extremely stunned with Red River’s dedication to its communities. We are anxious to help their undertakings as they continue making a positive and suffering impact on students, veterans, and communities stuck between a rock and a hard place.”