Red River is acquired by Cerberus Capital

CLAREMONT — Red River, a technology-integration company headquartered in Claremont, will change ownership following an acquisition of the company on Monday by a global investment firm.

Cerberus Capital Management, a private equity firm based in New York City announced the acquisition of a majority stake in Red River by one a Cerberus affiliate, according to a news release on Tuesday.

Parties who spoke to The Eagle Times declined to disclose any monetary information pertaining to the purchase but said “certain Red River shareholders will retain a minority equity stake” in the company.

Cerberus plans to retain Red River’s Chief Executive Officer Alan Dumas to lead Red River and both Dumas and Red River Co-Founder Rick Bolduc will both serve on the Board of Directors.

“Clearly the confidence is in the (existing Red River) team moving forward,” said one official, who asked not to be named in the article.

The official told The Eagle Times that leadership and management at Red River will remain in place, as the intent of the acquisition is to expand Red River’s global capability.

Founded in 1992 Cerberus is a global leader in “alternative investing”, a broad term referring to investments in asset classes outside of traditional cash, stocks or bonds, such as real estate, commodities or private equities. The company claims over $55 billion in assets and a team of 785 professionals worldwide.

Parties from Cerberus and Red River said they believe through combining the companies’ resources — Red River’s success in serving the technology needs of government agencies and businesses and Cerberus’s capital and global network — to expand Red River’s growth internationally.

“Digital transformation and modernization are critical to the success of government agencies and businesses,” said Michael Sanfor, senior managing director at Cerberus. “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.”

“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,” Dumas said. “We are confident that this partnership will launch an exciting next chapter of growth for Red River and our team members.”

Red River is a major provider of technology solutions and managed services for federal and state agencies, commercial businesses and education providers, with an expertise in security, networking, data management and collaborative and mobile technology solutions.

In 2009, Red River relocated its headquarters from Lebanon to the Wainshaw building, a renovated historic mill building in Claremont, which Red River occupies with The Common Man inn and restaurant.