Siris Acquires BearCom from Bertram Capital

Siris Acquires BearCom from Bertram Capital

Siris, a prominent private equity firm specializing in technology investments, has announced its definitive agreement to acquire BearCom from Bertram Capital. BearCom, a leading provider of wireless communications and security technologies in North America, was previously under the ownership of Bertram Capital, a middle market private equity firm based in Foster City, California. The financial terms of the deal remain undisclosed.

Transaction Snapshot

  • Deal Value: N/A
  • Deal Type: Acquisition
  • Deal Date: Announced on Nov. 27, 2023
  • Investors: Siris
  • Founders: N/A

BearCom, established in 1981, is renowned for its decades-long service in providing land mobile radio systems essential for various business and security operations. The company boasts over 1,000 employees, including a service workforce of 350+ across the United States and Canada. These skilled technicians deliver engineered product solutions and technical services, ensuring safety and security across various industries, including distribution, manufacturing, chemicals, construction, energy, transportation, live events, and the public sector.

Siris' investment aims to bolster BearCom's growing market presence, especially in video and physical security technologies, private data networks, and DAS systems. This acquisition is set to enhance BearCom's services in large-scale live entertainment and industrial events.

Jeff Jacobson, an Executive Partner at Siris, praised BearCom's company vision and customer-focused approach, highlighting its potential for scaled capabilities and operations. BearCom's existing quality and innovation are recognized by industry partners, including a Platinum Channel Partner and Service Elite Specialist relationship with Motorola Solutions and partnerships with technology leaders like Amazon Web Services, Athonet by Hewlett Packard Enterprise, Ericsson Cradlepoint, Fujitsu, Boingo, and Evolv Technology.

Les Fry, CEO of BearCom, expressed optimism about the new partnership with Siris, emphasizing planned investments in product portfolio expansion and service enhancement. He also acknowledged the valuable support from Bertram Capital in BearCom's growth.

Tyler Sipprelle, a Partner at Siris, noted BearCom's alignment with Siris' investment approach due to the mission-critical nature of BearCom's solutions.

The transaction is set for closure around year-end 2023, pending regulatory approvals and customary closing conditions. Legal advisory to Siris was provided by Sidley Austin LLP, with financial advisories by Piper Sandler and BlackArch Partners and legal advisory by Hirschler LLP to BearCom and Bertram Capital.

About Siris

Siris, based in New York and West Palm Beach, focuses on investments in mature technology and telecommunications sectors. The firm has raised nearly $6 billion in cumulative capital commitments and utilizes proprietary research and collaborative efforts with Executive Partners and Advisors in its investment strategy.

About BearCom

BearCom, headquartered in Garland, Texas, leads in providing and integrating wireless voice, video, and data solutions across the U.S. and Canada.

About Bertram Capital

Bertram Capital, a private equity firm established in 2006, targets lower middle market companies, having raised over $3 billion in capital commitments. The firm's unique strategy includes Bertram High 5sm and Bertram Labs, aimed at unlocking the full potential of its portfolio companies through digital marketing, e-commerce, big data, analytics, and technology optimization.

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