DLT Solutions managers lead buyout
- By Nick Wakeman
- Oct 18, 2005
The management team of DLT Solutions Inc. has led a buyout of the company from the beneficiaries of the firm's founder.
The management buyout was led by DLT President and Chief Executive Officer Rick Marcotte and Chief Financial Officer Craig Adler. The value of the buyout was not disclosed, but DLT had 2004 revenue of $318 million and was ranked No. 46
on Washington Technology's 2005 Top 100
list of the largest government IT contractors.
The company is a value-added reseller of products such as Oracle, Autodesk, Quest Solutions, Red Hat and Adobe.
Marcotte has led the company since mid-2004, and before that served on the company's board of directors. Part of his and Adler's strategy since then has been to build the company's technical support and implementation capabilities as a complement to DLT's product business, the company said.
SunTrust Bank provided financing and BB&T Capital Markets/Windsor Group served as the advisor to the company for this transaction.
Thomas Marrelli, who founded the Herndon, Va., company in 1991, died in 2002.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.