Bertram Capital has acquired Perimeter Solutions Group (PSG), a provider of commercial and industrial perimeter protection, from Gladstone Capital.
PSG’s products include permanent and rental fencing, automated gates, and access control services. The company operates from five locations and serves customers across 14 states in the southern United States.
PSG’s customers include developers, property owners, and managers of multi-family, industrial, office, retail, stadiums, parks, airports, medical, data centers, and renewable energy sites. PSG, led by CEO Wes Tolbert, is headquartered in Tampa, Florida.
PSG is actively expanding into new locations and adjacent markets throughout the Southern US and other select areas.
“We are proud to partner with Bertram to accelerate our next phase of growth, while continuing to develop our team, capabilities, and market-leading position in perimeter solutions,” said Mr. Tolbert. “Bertram’s team has shown a deep understanding of our brand, industry, and company values. Additionally, with the integration of Bertram Labs’ digital capabilities, we believe we will further enhance growth and improve business processes to better serve our customers. We look forward to being a part of the Bertram team.”
“PSG has established a market-leading position in perimeter security across the South, from Arizona to Florida,” said Tom Beerle, a partner at Bertram Capital. “The company exemplifies an ideal Bertram investment: strong customer retention, category leadership, rapid organic and inorganic growth, and a top-tier management team.”
Bertram invests in middle-market companies in the business services, consumer, industrial, and manufacturing sectors, focusing on firms with revenues between $25 million and $250 million and EBITDA of $5 million to $30 million. The firm is headquartered in San Mateo, California.
The acquisition of PSG marks the second platform investment by Bertram’s fifth fund, following last month’s acquisition of MSE Supplies, an Arizona-based provider of materials, laboratory equipment, and supplies. Bertram’s fifth fund closed above its target in January 2024, with $1.5 billion in commitments.
© 2024 Private Equity Professional | October 25, 2024
