Cerberus Capital Management LP, a global provider of alternative investing, has, though one of its affiliates, acquired a majority stake in Red River Technology from a group including the company’s founding shareholders and Acacia Partners.

Red River is a provider of technology services for security, networking, data center, collaboration, mobility and cloud applications. The company has worked with federal government agencies, state and local government and education customers, and commercial businesses

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 Dumas. “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.”

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.