Bertram Capital Completes Successful Sale of Best Version Media to H.I.G. Capital

Bertram Capital's Successful Exit from Best Version Media

In a significant move in the world of private equity, Bertram Capital announced the successful sale of Best Version Media (BVM) to H.I.G. Capital Partners, a renowned alternative investment firm. This transaction marks Bertram's 21st exit since its inception in 2006, showcasing the firm's consistent performance in the competitive market of private equity investments.

Based in Brookfield, Wisconsin, BVM has been a trailblazer in providing both print and digital advertising solutions tailored for over 30,000 local small and medium-sized businesses (SMBs) across the United States and Canada. The specifics of the deal remain undisclosed, but it has set the stage for potential high growth under H.I.G. Capital's stewardship.

Ryan Craig, a partner at Bertram Capital, shared insights into the partnership, stating, "BVM represented a unique opportunity to partner with a talented, visionary group of founders and executives in an important corner of the SMB advertising market." He attributed part of the firm’s success to their proprietary Bertram High 5 strategy, which emphasizes leveraging in-house capabilities—particularly from Bertram Labs, their IT services team—to enhance BVM's community magazine business and introduce a range of complementary digital offerings.

Since Bertram's investment, BVM has heavily focused on expanding its digital services. Among these advancements are targeted advertising solutions, reputation management services, and local sports content, all designed to enrich the offerings to SMB clients. This strategic growth not only solidified BVM's position in the market but also opened up new avenues for revenue generation.

Co-founder of BVM, Dave Durand, praised the collaboration with Bertram, stating, "The Bertram team, led by Ryan and Mitch, was the ideal fit for BVM. They enhanced our core business and delivered what they promised in helping support our digital growth initiatives." Meanwhile, CEO Kevin O’Brien highlighted the significant contributions of Bertram Labs in bringing superior technology talent to the company, aiding in strategic improvements that were essential to BVM's operational success.

The successful sale process was significantly aided by the banking team at Stephens, led by Phyllis Riggins. Their efforts in positioning BVM as an innovative growth engine played a crucial role in facilitating this transaction. Additionally, Canaccord Genuity contributed valuable support throughout the process, led by Edin Trto.

Looking forward, the acquisition by H.I.G. Capital is poised to further accelerate BVM’s growth trajectory, taking advantage of the firm’s expertise in managing diversified investment portfolios. The objective will likely remain focused on maintaining BVM's responsiveness to the needs of small and medium-sized business clients while harnessing new technological advancements.

For a company based in an ever-evolving digital landscape, BVM's commitment to showcasing brands and effectively connecting SMBs with high-value customers has been reaffirmed through strategic partnerships and investment in technology-driven solutions.

This transition marks an exciting chapter for BVM, setting a promising foundation for future innovations in the advertising sector. As Bertram Capital continues its journey in private equity, the lessons learned and successes achieved through its partnership with BVM will undoubtedly influence its upcoming ventures.