Acquisitive Spectrio Is Itself Acquired By Different PE Firm
December 29, 2020 by Dave Haynes
Tampa-based solutions provider Spectrio had seemingly been going down the well-established path pf growing through acquisition, but on the heels of several buys it has made, the company has itself been acquired by a private equity firm.
NYC-based The Jordan Company (TJC) announced that what I guess is a fund in its portfolio – the Resolute Fund IV – has closed on its acquisition of Spectrio, picking the company up from another PE or VC firm, Bertram Capital Management.
Spectrio’s existing management team, led by CEO Dax Brady-Sheehan, will continue to run the company and Bertram still has a minority equity stake in the business. Additional terms of the transaction were not disclosed.
Spectrio describes itself as a leading provider of technology-enabled, customer engagement and content management solutions, including digital signage, interactive kiosks, on-hold marketing, on-premise messaging & music and Wi-Fi marketing. Spectrio’s subscription-based model is underpinned by a large, proprietary content library including 10,000+ templates and 100,000+ pieces of customized, vertical specific content delivered through a proprietary, cloud-based content management software platform that enables scalable, efficient deployment of brand-compliant content for its large, diverse and location-based clients.
The company says its solutions are currently deployed in roughly 100,000 customer locations.
Lumos Partners served as financial advisors and Kirkland & Ellis LLP served as legal counsel for TJC. Baird and Lincoln International LLC served as financial advisors and Paul Hastings LLP served as legal counsel to Spectrio.
Spectrio acquired Industry Weapon back in September, and earlier had acquired three other companies also active in digital signage: VS Networks, Codigo and 10 Foot Wave.