DLT Solutions acquired by financal services, merchant banking firm

Millstein & Co. has acquired DLT Solutions  for an undisclosed amount.

Millstein & Co. is a diversified financial services and merchant banking firm whose private equity business focuses on control-oriented investments in the areas of financial investments, technology, industrial, consumer and technology-based business services, DLT said in a release.

As part of the transaction, Millstein & Co. operating partner Alan Smith will join DLT Solutions as president and CEO. He was formerly CEO at Westcon Group. Current DLT president Rick Marcotte will become vice chairman and will continue as a consultant to the company, DLT said.

In 2014, DLT expanded its cloud business and won spots on a number of contracts including SEWP-V and a Defense Department BPA for Red Hat products, the company said.