Bertram Capital [1] this week announced its investment in Spectrio LLC [2], a full-service provider of customer engagement solutions to a diversified set of enterprise and small to medium sized businesses.
Spectrio offers its customers subscription access to a suite of customized content solutions ranging from on-hold messaging to digital signage and in-store music and messaging, enabling clients to engage and educate their customers, thereby increasing sales and improving customer retention. Spectrio represents Bertram’s seventeenth platform investment and its second investment in marketing services and digital content delivery. Bertram acquired its interest in Spectrio from The Riverside Company (a global private equity firm focused on making control and non-control investments in growing businesses valued at up to USD 400 million) which has been the majority investor since 2014.
Jared Ruger, Partner at Bertram told us “Bertram is extremely excited to partner with the team at Spectrio,” said “As a market leader with a vast content library and differentiated content delivery model, proven commitment to customer service, and history of completing accretive add-on acquisitions, Spectrio aligns well with Bertram’s unique buy and build investment strategy. We believe there is a robust add-on acquisition landscape, as well as meaningful opportunities to accelerate organic growth.”
Based in Oldsmar, Florida, Spectrio was founded in 2002 by Aaron Kleinhandler and Mitch Keller, who built the company through 24 acquisitions. The Riverside Company invested in Spectrio in 2014, and sourced and integrated seven add-on acquisitions that expanded Spectrio’s customer base and geographic footprint while adding new service offerings.
We understand that Bertram’s investment in Spectrio is aligned with its strategy of partnering with founders in highly fragmented industries to implement Bertram’s buy and build strategy, the Bertram High-5TM. A key element of this value creation capability is Bertram Labs, the firm’s in-house software development and digital marketing team, which will be actively involved in helping Spectrio expand its technology platform.
Aaron Kleinhandler will remain as CEO, has led the business through two successful private equity exits and is retaining a meaningful portion of his ownership in the business.
With over USD 1.2 billion in committed capital, Bertram Capital is a private equity firm targeting investments in lower middle market companies. By supplying flexible investment capital and committing a wealth of operational and strategic resources to each investment, they make it their core objective to move companies, management teams, and employees toward unlocking their full potential.