Bertram Capital Secures New Industrial Distribution Platform with Investment in NEFCO

Published: Aug. 10, 2022 at 9:00 AM EDT

FOSTER CITY, Calif., Aug. 10, 2022 /PRNewswire/ -- Bertram Capital ("Bertram") announced today its investment in Hartford, CT based NEFCO Holding Company LLC ("NEFCO" or the "Company"), a family-owned value-added distributor providing a broad range of specialty construction products to professional contractors. NEFCO represents the ninth investment completed in Bertram's fourth fund. Terms of the transaction were not disclosed.

Bertram Capital. (PRNewsFoto/Bertram Capital)
Bertram Capital. (PRNewsFoto/Bertram Capital)(PRNewswire)

"NEFCO has established itself as a leader in the SHARP® (Strut, Hardware, Anchors, Rod and Pipe Hangers) product category. They are a valued partner to customers and suppliers providing expert level service, deep product knowledge, breadth of offering, and unique delivery capabilities," said Kevin Yamashita, Partner at Bertram Capital. "We are thrilled to partner with the NEFCO team, which includes Founder & Executive Chairman David Gelles, CEO Matt Gelles, COO Ron Cipriano, and CFO David Putt. The Company's continued success and growth across multiple decades is a testament to the capabilities of the team and their position in the industry. To be trusted as NEFCO's first institutional partner is an honor."

NEFCO is a leader in construction supply distribution, focusing on SHARP® products, and is the consolidator of choice in the industry based on the Company's proven history of acquisitions, excellent reputation for employee culture, and customer service. NEFCO has 19 distribution facilities across the East Coast and Midwest, allowing the Company to serve the evolving needs of a market driven by technical sales and service relationships with its customers. NEFCO will utilize Bertram's established buy and build value creation strategy and leverage the Bertram Labs technology enablement team as a tool to drive continued growth.

"The Bertram team differentiated itself in the sale process through their clear understanding of our business model and services, shared vision in the value creation strategy, and their Bertram Labs technology enablement resource," said Matt Gelles, CEO of NEFCO. "We look forward to leveraging Bertram's operating capabilities, including the Bertram Labs team, to further accelerate our growth initiatives."

"We are excited to partner with and have the support of Bertram as we continue to grow our business, both organically and through acquisitions," added David Gelles, Founder & Executive Chairman of NEFCO. "We prioritized finding a partner to help us continue to build NEFCO into an industry leader. We believe we found that partner in Bertram."

Bertram would like to recognize the investment banking team at Raymond James, led by Carl Gatenio and Gareth Hughes for their efforts in closing this transaction and making this partnership possible.

About NEFCO

NEFCO is a family-owned and operated construction supply company providing a broad range of products and services to a large variety of professional contractors. With 19 locations along the East Coast and Midwest, NEFCO provides localized, contractor-centric services including extensive industry expertise, large local inventories, fast dependable jobsite delivery, turnkey engineering services, and specialty fabrication and assembly of construction supplies. www.gonefco.com

About Bertram Capital

Bertram Capital is a private equity firm targeting investments in lower middle market companies. Since its inception in 2006, the firm has raised over $2.2B of capital commitments. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High-5sm and Bertram Labsto empower its portfolio companies to unlock their full business potential. The Bertram High-5sm is an operationally-focused value creation strategy, which includes management augmentation, operational initiative implementation, complementary business acquisition, sales and marketing improvements, and leveraging technology and IP. The cornerstone of this strategy is Bertram Labs, its in-house technology team, which drives growth and value through digital marketing, e-commerce, big data and analytics, application development, and internal and external platform optimization. Visit www.bcap.com for more information.

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