Lower middle market private equity firm

Bertram Capital Management

At a glance

Latest fundBertram Ignite I, $260M (Jan 2025) S5
EBITDA range$3M to $50M S2
Revenue range$25M to $250M S2
Check size$10M+ S2
Deal typesPlatform, Add-on, Minority S2
SectorsAuto Services & Collision, Roofing, Construction Services, Distribution, Consumer & Food, Industrial & Manufacturing

What Bertram Capital Management buys

Bertram Capital is a Foster City, California firm founded in 2006 that has raised more than $4 billion. It invests in business services, consumer, industrial and technology companies, and backs each one with Bertram Labs, its own team of software engineers, designers and online marketers. The flagship funds take control of companies with $7.5 million to $50 million of EBITDA and $50 million to $250 million of revenue, investing $50 million or more of equity with modest debt.

Since January 2025 it has also invested from Bertram Ignite I, a $260 million fund for smaller, often founder-owned companies with about $3 million to $7.5 million of EBITDA and $25 million to $50 million of revenue, where it can take control or a structured minority stake. Bertram sets aside roughly half of each fund for add-ons, which can be smaller. Recent add-ons include local roofers bought by Ridgeline Roofing, fence and gate installers bought by Perimeter Solutions Group and a Maine tire and repair chain bought by Left Lane Auto.

Recent deals

Announced in the 24 months before October 19, 2026.

DateCompanyTypeSectorSource
Oct 2026Percopo Coatings CompanyFounder-led commercial painting and coatings contractor in Florida; fifth Ignite platformPlatformConstruction ServicesSource
Sep 2026TactacamMaker of REVEAL cellular trail cameras sold to GTCR; first exit from Fund VExitConsumer & FoodSource
Sep 2026Advantage Roofing & ExteriorsKalamazoo, Michigan roofer; Ridgeline's eighth acquisitionAdd-onRoofingSource
Sep 2026STARC SystemsMaker of reusable temporary walls for renovation work in occupied buildings; sixth Fund V platformPlatformConstruction ServicesSource
Jun 2026Freedom Roofing & ConstructionChampaign, Illinois roofer added to RidgelineAdd-onRoofingSource
Jun 2026The Bluebird GroupMinneapolis retail commerce services firm; growth partnership with the founder, fifth Fund V platformPlatformSource
Jun 2026Fremont Roofing CompanyFremont, Nebraska roofer added to RidgelineAdd-onRoofingSource
Feb 2026Don Foshay's Discount Tire & AlignmentSix-store tire and auto repair chain in Maine added to Left Lane Auto, with managers and staff kept onAdd-onAuto Services & CollisionSource
Feb 2026Querétaro F.C.Joined the ownership group of the Mexican professional soccer club; fourth Ignite platformInvestmentSource
Jan 2026Interlock AdhesivesUK adhesive supplier added to APPLIED AdhesivesAdd-onDistributionSource
Jan 2026Bold North Roofing and ContractingTwin Cities, Minnesota roofer added to RidgelineAdd-onRoofingSource
Jan 2026Econo FenceCalifornia commercial fencing company added to Perimeter Solutions GroupAdd-onConstruction ServicesSource
Jan 2026NEFCODistributor of construction products and tools sold to Leonard GreenExitDistributionSource
Jan 2026ReVamp CompaniesResidential concrete coatings, fencing and decking installer sold to Calera CapitalExitConstruction ServicesSource
Dec 2025Left Lane AutoTire retail and auto service platform with more than 75 locations; fourth Fund V platformPlatformAuto Services & CollisionSource
Sep 2025Kenneth Daniel RoofingLittleton, North Carolina roofer added to RidgelineAdd-onRoofingSource
Aug 2025TuscoHigh-security barrier, fence and gate installer added to Perimeter Solutions GroupAdd-onConstruction ServicesSource
Jul 2025BTmix and HG Adhesive DispensingTwo Carson City, Nevada adhesive equipment makers added to APPLIED AdhesivesAdd-onDistributionSource
Apr 2025APPLIED AdhesivesMinnesota adhesive distributor and manufacturer; third Fund V platformPlatformDistributionSource
Mar 2025Brody Allen ExteriorsSt. Louis area roofer added to RidgelineAdd-onRoofingSource
Mar 2025Signature ExteriorsCharlotte, North Carolina roofer added to RidgelineAdd-onRoofingSource
Feb 2025Strategic Fence & WallColorado fence company added to Perimeter Solutions Group; the founder stays on to run itAdd-onConstruction ServicesSource
Feb 2025Pro ShieldMadison, Mississippi roofer; Ridgeline's first add-onAdd-onRoofingSource
Jan 2025Best Version MediaLocal print and digital advertising publisher sold to H.I.G. CapitalExitSource
Jan 2025Bertram Ignite I$260 million fund for smaller control and minority investmentsFund closeSource
Oct 2024Perimeter Solutions GroupTampa-based commercial fencing, gate and access control provider; second Fund V platformPlatformConstruction ServicesSource

Portfolio by sector

From the firm's portfolio page S3.

Business Services

  • Cogency Global
  • Percopo Coatings Company
  • Perimeter Solutions Group
  • The Bluebird Group

Consumer

  • Aperture Pet & Life
  • Lectric Ebikes
  • Left Lane Auto
  • Perennials and Sutherland
  • QuerĂ©taro F.C.
  • Ridgeline Roofing & Restoration
  • Trademark Global

Industrial

  • AFC Industries
  • APPLIED Adhesives
  • Burke
  • MSE Supplies
  • Safety Products Global
  • STARC Systems

Greymont’s take

How Bertram Capital Management fits a seller

Bertram is one of the more active buyers of roofing, fencing, tire and auto service, and specialty distribution businesses, because it is building platforms in each: Ridgeline Roofing, Perimeter Solutions Group, Left Lane Auto and APPLIED Adhesives. Ridgeline alone has bought eight local roofers since February 2025. Owners often stay: the founder of Strategic Fence & Wall kept running it after the sale, and Left Lane said it would keep every manager and employee at Don Foshay's.

An owner with about $3 million or more of EBITDA can also approach Bertram as a new platform through the Ignite fund, which allows a minority deal. The firm says most of its platform deals have closed within 45 days of a letter of intent. Owners should ask what Bertram Labs will change in their sales and marketing, and how long Bertram plans to hold, since ReVamp and NEFCO were both sold after three to four years.

Questions owners ask

Does Bertram buy tire and auto service shops?

Yes. In December 2025 it invested in Left Lane Auto, a tire retail and auto service platform with more than 75 locations that wants to add regional shops with strong local brands. Its first add-on, in February 2026, was Don Foshay's, a six-store chain in Maine.

What is the smallest company Bertram will invest in?

Its Ignite fund looks for companies with about $3 million to $7.5 million of EBITDA and $25 million to $50 million of revenue. Smaller businesses can still sell to Bertram as add-ons to an existing platform, which the firm says can be smaller or earlier stage.

Will Bertram take a minority stake?

Its flagship funds prefer control, but the Ignite fund can make either control or structured minority investments. The firm also lists growth recapitalizations, family succession and management buyouts among the deals it does with owners.

Does Bertram buy roofing companies?

Yes, through Ridgeline Roofing & Restoration, which it backed in January 2024. Ridgeline has made eight acquisitions since February 2025, buying roofers in Mississippi, North Carolina, Missouri, Minnesota, Nebraska, Illinois and Michigan.

Sources

  1. S1Bertram Capital home page Accessed October 19, 2026
  2. S2Bertram Capital: Strategy and Investment Criteria Accessed October 19, 2026
  3. S3Bertram Capital: Portfolio Accessed October 19, 2026
  4. S4Bertram Capital: News Accessed October 19, 2026
  5. S5Bertram Capital Closes Bertram Ignite I (January 14, 2025) Accessed October 19, 2026
  6. S6Bertram Capital Hits Hard Cap, Closes Fund V with $1.5 Billion (January 18, 2024) Accessed October 19, 2026
  7. S7Bertram Capital: For Businesses Accessed October 19, 2026
  8. S8Bertram Capital: Left Lane Auto portfolio page Accessed October 19, 2026
  9. S9Bertram Capital Completes Investment in Percopo Coatings (October 6, 2026) Accessed October 19, 2026

Compiled by Greymont Advisors from public sources, including the firm’s own website and press releases. Greymont is not affiliated with Bertram Capital Management. Figures are as reported on the dates shown and may have changed. Request a correction

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