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  6. Bertram Capital and Brookside Capital Partners Acquire Spectrio

M&A Deal Summary

Bertram Capital and Brookside Capital Partners Acquire Spectrio

On September 19, 2017, private equity firm Bertram Capital and mezzanine finance firm Brookside Capital Partners acquired marketing company Spectrio from Riverside and New Canaan Funding

Acquisition Highlights
  • This is Bertram Capital’s 1st and Brookside Capital Partners’ 2nd transaction in the Marketing sector.
  • This is Bertram Capital’s 19th and Brookside Capital Partners’ 30th transaction in the United States.
  • This is Bertram Capital’s 2nd and Brookside Capital Partners’ 5th transaction in Florida.
Investment Fate
  • Spectrio was sold to a consortium of financial buyers in 2020.

M&A Deal Summary
Date 2017-09-19
Target Spectrio
Sector Marketing
Buyer(s) Bertram Capital
Brookside Capital Partners
Sellers(s) Riverside
New Canaan Funding
Deal Type Secondary Buyout
Advisor(s) Lincoln International (Financial)

Target

Spectrio

Tampa, Florida, United States
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 1986 and is based in Tampa, Florida.

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Buyer(S) 2

Buyer

Bertram Capital

Foster City, California, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 3.0B 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 $20 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 21 of 47
Sector: Marketing M&A 1 of 3
Type: Secondary Buyout M&A Deals 5 of 13
State: Florida M&A 2 of 3
Country: United States M&A 19 of 44
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-08 Anord Mardix

Dundalk, Ireland

Anord Mardix is a provider of critical power equipment to a diverse set of blue-chip customers in the rapidly growing data center industry, which is being driven by enterprise cloud migration, rising data consumption, media-rich content, and proliferation of connected devices. Anord Mardix’s capability set includes manufacturing operations in Europe and the US, a worldwide sales and service presence, and dual-listed UL and IEC products, which positions the Company to deliver innovative and flexible solutions with industry best lead times to customers on a global basis. Anord Mardix was founded in 1969 and is based in Dundalk, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-17 Clarus

Fort Worth, Texas, United States

Clarus is a manufacturer and seller of wall-mounted and mobile glassboards, architectural glass systems and related accessories primarily to corporate, education, healthcare and government customers. The company manufactures products from its facility in Texas and sells into the architectural and design and commercial furniture channels. Clarus was founded in 2009 and is based in Fort Worth, Texas.

Sell -
Buyer

Brookside Capital Partners

Investor Investor Investor Investor Investor

Category Mezzanine Finance Firm
Founded 2001
PE ASSETS 1.2B USD
Size Large
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 30 of 68
Sector: Marketing M&A 2 of 7
Type: Secondary Buyout M&A Deals 12 of 16
State: Florida M&A 5 of 9
Country: United States M&A 30 of 68
Year: 2017 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-03 Dutchland Plastics

Oostburg, Wisconsin, United States

Dutchland Plastics is a provider of custom rotational molding services and related secondary operations to a wide range of customers across a diverse cross section of markets including, but not limited to, recreational equipment, industrial equipment, and lawn and garden. Dutchland Plastics was founded in 1967 and is based in Oostburg, Wisconsin.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-02 Principal Sloan

San Angelo, Texas, United States

Principal Sloan is an electronics component provider to the electrical sign industry in North America. The company manufactures and sells UL-recognized LED sign modules and cabinet products for new and retrofit sign applications, as well as neon and LED power supplies and other sign accessories. Principal Sloan was founded in 2010 and is based in San Angelo, Texas.

Buy -

Seller(S) 2

SELLER

Riverside

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.

DEAL STATS #
Overall 124 of 209
Sector: Marketing M&A 3 of 3
Type: Secondary Buyout M&A Deals 50 of 84
State: Florida M&A 10 of 11
Country: United States M&A 89 of 147
Year: 2017 M&A 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-14 G&H Orthodontics

Franklin, Indiana, United States

G&H Orthodontics is a manufacturer, distributor of orthodontic products. G&H Orthodontics manufactures 'ortho force' products that make teeth move, primarily orthodontic archwires and elastics (rubber bands), versus products that anchor teeth in the orthodontic process. G&H Orthodontics was founded in 1981 and is based in Franklin, Indiana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-02 Parker Food Group

Fort Worth, Texas, United States

Parker Food Group is a manufacturer of custom specialty ingredients used by a wide array of well-known food & beverage companies. Parker’s product offerings include toppings, inclusions, grinds, flavor bases, icings, swirls, and other innovative items. It has built a strong and loyal following thanks to its proven R&D team, flexibility, and capabilities to quickly deliver unique offerings using clean-label, natural, and organic ingredients. Parker Food Group was founded in 1926 and is based in Fort Worth, Texas.

Buy -
SELLER

New Canaan Funding

New Canaan, Connecticut, United States
Category Mezzanine Finance Firm
Founded 1995
PE ASSETS 238M USD
Size Small
Type Sector Agnostic
DESCRIPTION

New Canaan Funding is a middle-market mezzanine finance firm. New Canaan looks to provide subordinated debt to help fund acquisitions, recapitalizations and growth financings. New Canaan invests $3 to $20 million per transaction with an EBITDA of $3 million. New Canaan Funding was formed in 1995 and has offices in New Canaan, Connecticut and Wheaton, Illinois.

DEAL STATS #
Overall 35 of 36
Sector: Marketing M&A 3 of 3
Type: Secondary Buyout M&A Deals 16 of 16
State: Florida M&A 3 of 3
Country: United States M&A 34 of 35
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-10 EnviroVac Holdings

Savannah, Georgia, United States

EnviroVac Holdings LLC is a provider of mission-critical cleaning and maintenance services to blue-chip customers. EnviroVac provides general industrial, chemical cleaning, environmental, digital inspections, fluid treatment and automated cleaning solutions to the power & utilities, pulp & paper, chemical, steel and manufacturing end industries. EnviroVac Holdings LLC was established in 1998 and is headquartered in Savannah, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-01 Paradigm Tax Group

Phoenix, Arizona, United States

Paradigm Tax Group is an independent national provider of comprehensive property tax management services. PTG provides taxpayers with a full suite of services, including real and personal property tax appeals, pre-acquisition planning due diligence, complex property consulting, and business personal property tax compliance. Paradigm Tax Group was founded in 2004 and is based in Phoenix, Arizona.

Sell -
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