Siris Enters into Agreement to Acquire BearCom
Nov. 27, 2023 -- Siris, a leading private equity firm focused on investing and driving value creation in technology companies, today announced a definitive agreement to acquire BearCom, a leading North American solutions provider of wireless communications and security technologies, from Bertram Capital, a middle market private equity firm headquartered in Foster City, California. Terms of the transaction were not disclosed.
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Founded in 1981, BearCom has been trusted for decades by customers across North America to provide land mobile radio systems that support critical business and security processes. BearCom has more than 1,000 employees, including 350+ in its service workforce across the United States and Canada. These highly trained technicians deliver engineered product solutions and value-add technical services to ensure safety and security throughout the equipment lifecycle. BearCom supports customers of all sizes across the distribution, manufacturing, chemicals, construction, energy, transportation, and live events industries, as well as the public sector. With more than 60 branch locations, BearCom serves as the world's largest integrator of Motorola's two-way radio systems.
Siris' investment in BearCom will provide the company with additional resources and expertise to help accelerate BearCom's growing traction in providing video and other physical security technologies, private data networks, and DAS systems to enterprise customers and complex, large-scale live entertainment and industrial events.
"Les and the team have built a compelling company vision and customer-first culture. I am deeply impressed with BearCom's focus on deploying highly engineered technologies and expertise to deliver end-to-end solutions to customers across industries to improve safety, security and productivity," said Jeff Jacobson, an Executive Partner at Siris. "I look forward to working with BearCom as it scales its capabilities and operations over the coming years."
BearCom's existing commitment to quality and innovation are well-recognized by key industry partners. BearCom has a longstanding Platinum Channel Partner and Service Elite Specialist relationship with Motorola Solutions in recognition of its strong sales performance and high-quality service capabilities. BearCom has also announced partnerships with technology leaders including Amazon Web Services, Athonet by Hewlett Packard Enterprise, Ericsson Cradlepoint, Fujitsu, Boingo, and Evolv Technology.
"BearCom has been on an impressive trajectory in recent years, and Siris' technology expertise makes it the ideal partner to propel our next chapter of growth," said Les Fry, Chief Executive Officer of BearCom. "With Siris' support, we will focus investments on broadening our product portfolio and deepening our service capabilities. I also want to express my gratitude to Bertram Capital for their partnership and support over the past five years."
"BearCom has an extensive history of addressing customers' most crucial wireless communications and security needs," said Tyler Sipprelle, a Partner at Siris. "This mission-critical nature of BearCom's solutions is a strong fit for Siris' investment approach, and we look forward to partnering with the BearCom team to help accelerate both organic and inorganic growth."
The transaction is expected to close around year-end 2023, subject to regulatory approvals and other customary closing conditions.
Sidley Austin LLP served as legal advisor to Siris. Piper Sandler and BlackArch Partners served as financial advisors and Hirschler LLP served as legal advisor to BearCom and Bertram Capital.
About Siris
Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris' development of proprietary research to identify opportunities and its extensive collaboration with its Executive Partners and Advisors are integral to its approach. Siris' Executive Partners and Advisors are experienced senior operating executives that actively participate in key aspects of the transaction lifecycle to help identify opportunities and drive strategic and operational value. Siris is based in New York and West Palm Beach and has raised nearly $6 billion in cumulative capital commitments. www.siris.com.
About BearCom
Founded in 1981, BearCom is the leading provider and integrator of wireless voice, video, and data solutions across the U.S. and Canada. BearCom is headquartered in Garland, Texas.
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 $3B of capital commitments. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High 5sm and Bertram Labs, to 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.
SOURCE Siris Capital Group, LLC