M&A Deal Summary

TJC and Bertram Capital Acquire Spectrio

On December 15, 2020, private equity firms TJC and Bertram Capital acquired marketing company Spectrio from Bertram Capital and Brookside Capital Partners

Acquisition Highlights
  • This is TJC’s 1st and Bertram Capital’s 3rd transaction in the Marketing sector.
  • This is TJC’s 66th and Bertram Capital’s 27th transaction in the United States.
  • This is TJC’s 4th and Bertram Capital’s 3rd transaction in Florida.

M&A Deal Summary
Date 2020-12-15
Target Spectrio
Sector Marketing
Buyer(s) TJC
Bertram Capital
Sellers(s) Bertram Capital
Brookside Capital Partners
Deal Type Secondary Buyout
Advisor(s) Robert W. Baird & Co., Inc.
Lincoln International (Financial)
Paul Hastings (Legal)

Target

Spectrio

Oldsmar, Florida, United States
website
Spectrio is a provider of technology-enabled, customer engagement, and content management solutions, including digital signage, interactive kiosks, on-hold marketing, on-premise messaging & music, and Wi-Fi marketing. Spectrio's subscription-based model is underpinned by a large, proprietary content library including 10,000+ templates and 100,000+ pieces of customized, vertical-specific content delivered through a proprietary, cloud-based content management software platform that enables scalable, efficient deployment of brand-compliant content for its large, diverse, and location-based clients. Spectrio was founded in 2002 and is based in Oldsmar, Florida.

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Buyer(S) 2

Buyer

TJC

New York, New York, United States

website

Category Private Equity Firm
Founded 1982
PE ASSETS 14.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TJC is a private investment firm that specializes in acquiring North American middle-market businesses operating in basic industries. TJC specifically looks to provide liquidity for shareholders, raise capital for corporate growth and 'create significant equity opportunities for key management'. TJC will consider opportunities valued from $100 million to $2 billion in a wide variety of industries. Sectors of interest include aerospace/defense, automotive, building products, chemicals, consumer products, distribution, energy, financial services, healthcare, industrial products, insurance, metals, packaging, retail, transportation/logistics, and telecom. TJC was formerly known as The Jordan Company. The Firm was formed in 1982 and is based in New York City.

DEAL STATS #
Overall 68 of 91
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 23 of 32
State (Florida) 4 of 5
Country (United States) 66 of 88
Year (2020) 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-15 Heartland Home Services

Grand Rapids, Michigan, United States

Heartland Home Services is a provider of non-discretionary, residential HVAC replacement and maintenance, plumbing, and electrical services. The company has over 350 employees and services homeowners in Michigan, Indiana, and Kentucky. Heartland Home Services is based in Grand Rapids, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-21 Specialty Building Products

Duluth, Georgia, United States

Specialty Building Products is a distributor of specialty residential building products and provider of critical logistics solutions for the complex building products supply chain. SBP has entrenched market positions across high-growth product categories including exterior siding and trim, composite decking and railing, moulding and millwork, interior finish and engineered wood. Specialty Building Products is based in Duluth, Georgia.

Buy -
Buyer

Bertram Capital

Foster City, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2006
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bertram Capital is a private equity firm that targets buyout and growth equity investments in lower middle-market companies. Bertram looks for companies with revenues of $25 to $250 million and EBITDA of $5 to $35 million. Sectors of interest include healthcare services and infrastructure, industrial manufacturing, business and financial services, technology, and internet. Bertram will consider both control and non-control investments. Prospective transaction structures include management buyouts, shareholder liquidity events, acquisitions financing's, growth financing's, and PIPE. Bertram Capital was formed in 2006 and is based in Foster City, California.

DEAL STATS #
Overall 29 of 40
Sector (Marketing) 3 of 3
Type (Secondary Buyout) 9 of 12
State (Florida) 3 of 3
Country (United States) 27 of 37
Year (2020) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 Centicore Holdings

Los Angeles, California, United States

Centicore was established to acquire and nurture consumer brands. The Company has strong leadership, deep ecommerce expertise, and a creative culture to foster digitally native lifestyle brands across the apparel, accessory, and beauty categories.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-17 Pacific Handy Cutter

Irvine, California, United States

Pacific Handy Cutter is a designer, manufacturer, and marketer of branded razor cutting tools with enhanced safety features designed to eliminate workplace injuries and product damage in commercial backroom operations. Pacific Handy Cutter was founded in 1950 and is based in Irvine, California.

Buy -

Seller(S) 2

SELLER

Bertram Capital

Foster City, California, United States

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 2006
PE ASSETS 1.4B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Bertram Capital is a private equity firm that targets buyout and growth equity investments in lower middle-market companies. Bertram looks for companies with revenues of $25 to $250 million and EBITDA of $5 to $35 million. Sectors of interest include healthcare services and infrastructure, industrial manufacturing, business and financial services, technology, and internet. Bertram will consider both control and non-control investments. Prospective transaction structures include management buyouts, shareholder liquidity events, acquisitions financing's, growth financing's, and PIPE. Bertram Capital was formed in 2006 and is based in Foster City, California.

DEAL STATS #
Overall 15 of 21
Sector (Marketing) 1 of 1
Type (Secondary Buyout) 6 of 10
State (Florida) 1 of 1
Country (United States) 14 of 19
Year (2020) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 Centicore Holdings

Los Angeles, California, United States

Centicore was established to acquire and nurture consumer brands. The Company has strong leadership, deep ecommerce expertise, and a creative culture to foster digitally native lifestyle brands across the apparel, accessory, and beauty categories.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-17 Pacific Handy Cutter

Irvine, California, United States

Pacific Handy Cutter is a designer, manufacturer, and marketer of branded razor cutting tools with enhanced safety features designed to eliminate workplace injuries and product damage in commercial backroom operations. Pacific Handy Cutter was founded in 1950 and is based in Irvine, California.

Buy -
SELLER

Brookside Capital Partners

Investor Investor Investor Investor Investor

website

Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Brookside Capital Partners is an investment management firm focused on stable lower-middle market companies in the US. The Firm typically commits $5 to $30 million per transaction to support buyouts, leveraged recapitalizations, strategic acquisitions and growth. Potential businesses generally have revenue greater than $15 million, and EBITDA of at least $4 million. Industries of interest include business services, consumer, distribution, healthcare, manufacturing, and transportation and logistics. Brookside Capital Partners was established in 2001 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 10 of 18
Sector (Marketing) 1 of 2
Type (Secondary Buyout) 5 of 9
State (Florida) 1 of 2
Country (United States) 10 of 18
Year (2020) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-14 TenderHeart Health Outcomes

Austin, Texas, United States

TenderHeart Health Outcomes is a provider of care management solutions, in partnership with managed care organizations, for patients with incontinence issues. TenderHeart Health Outcomes was founded in 2005 and is based in Austin, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-14 Taos

San Jose, California, United States

Taos is a multi-cloud consulting and managed services firm. The company brings years of experience with leading brands across technology, financial services, healthcare, retail, transportation and education. A leading adopter of public cloud technologies, Taos has forged strong partnerships with Amazon Web Services, Google Cloud Platform, and Microsoft Azure to deliver data center migration, platform engineering and hybrid cloud managed services.

Sell -
Mergr

Product

Company

Legal