Case Study: Power Distribution, Inc.

Bertram Capital employed The Bertram Capital High 5sm to build the leading independent power quality solutions company.

Acquired

April 2007 through a sale process run by Edgeview Partners.

Exited

October 2011 through a targeted sale process run by Lincoln International focused on a select group of strategic buyers. The company was sold to Smiths Group plc.

Transaction Overview

By employing our unique buy and build approach, The Bertram Capital High 5sm, and partnering closely with a strong management team, PDI was transformed from a middle of the pack company to the leading independent business in the power quality industry in less than five years.  Some examples of the Bertram Capital High 5sminclude:

Results: 2.4x Organic Sales Since Acquisition
Product Extension: Grew product line from four primary products to over twenty
Market Expansion: Expanded total addressable market by >$750 million
Results:
  • Grew PDI revenue and EBITDA nearly 5x in less than 5 years
  • Achieved our goal of a strategic sale when Smith Group plc. acquired PDI.
Transaction Partner Comments:

“We were impressed with Bertram's ability to move quickly and efficiently through their diligence process. They minimized the burdens required on their future partners, the management team, while being thorough in their diligence work product. Additionally, they minimized the risk to the sellers of closing the transaction by taking financing contingencies off the table. Ultimately, the Bertram team followed through on their initial terms of engagement to complete a highly successful transaction for Bertram, the selling shareholders and the management team. We look forward to working with the firm on future engagements.”

Ted Garner, Managing Director, Edgeview Partners (Managed the sale of PDI to Bertram Capital)

“We are very fortunate to have had the opportunity to partner with the Bertram Capital team. Under Bertram Capital’s leadership, PDI’s board of directors provided us with the guidance and resources to build the leading independent player in power quality solutions for multiple end markets.”

Rob Sweaney, President and CEO, Power Distribution, Inc.