Bertram Capital has held a hard cap final closing of Bertram Growth Capital III LP and Bertram Growth Capital III-A LP (collectively Fund III) with a combined $500 million of capital commitments. Sixpoint Partners was the placement agent for this fundraise.
Fund III received commitments from over 30 investors, including endowments, insurance companies, multi-manager funds, consultants, public pensions, corporate pensions and family offices.
Bertram Capital invests in middle-market business services, consumer, industrial and manufacturing companies that have revenues from $25 million to $250 million and EBITDA of $5 million to $30 million. To drive growth and create value in its portfolio companies, Bertram uses an investment strategy called “High 5” which focuses on five core operating principles – sales and marketing improvement, management support, supply chain optimization, technology optimization, and add-on acquisitions.
“Bertram greatly appreciates the support of our limited partners in the strategy we have developed over the last 12 years. We are off to a great start, having already deployed capital and co-investment in three platform investments,” said Jeff Drazan, Managing Partner at Bertram. “The successful fundraise is the result of effectively employing a differentiated investment strategy and building a cohesive, committed team. We would also like to thank Sixpoint Partners for their role in this successful fundraise.”
The three platform investments that Bertram has already closed on are Anord, a Dundalk, Ireland-based provider of power distribution and protection equipment for data centers and industrial applications that was acquired in May 2017; Spectrio, an Oldsmar, FL-based provider of customer engagement products and services that was acquired from The Riverside Company in September 2017; and Trademark Global, a Lorain, OH-based supplier of a range of branded home goods and consumer products to internet retailers and marketplaces that was acquired in October 2016.
Sixpoint Partners, the placement agent on this fundraise, is headquartered in New York with offices in Chicago, San Francisco and Hong Kong (www.sixpointpartners.com). “Bertram’s experienced team and differentiated approach generated strong demand from investors looking for untapped value in the middle market,” said Laurence Smith, Founder & Partner at Sixpoint Partners. “We believe Bertram is well positioned to continue generating strong results in the lower middle market, and we look forward to continuing our partnership with the Bertram team.”
Bertram Capital is led by its executive partnership team of Jeff Drazan, Kevin Yamashita, Ryan Craig, Jared Ruger, David Hellier, Ingrid Swenson and Brian Wheeler. The firm is headquartered south of San Francisco in San Mateo, CA (www.bertramcapital.com).
Kirkland & Ellis provided legal counsel in connection with Fund III.
© 2018 Private Equity Professional | February 15, 2018
