SAN MATEO, Calif., Feb. 21, 2011 /PRNewswire/ -- Bertram Capital has launched a new platform in the location based services industry through a partnership with the executive teams at ProconGPS, Inc. ("Procon") and Trackn Inc. d.b.a. Enfotrace ("Enfotrace"). Procon and Enfotrace are two of the leading providers of risk mitigation products, most notably GPS tracking solutions and payment protection systems, to the North American subprime automobile finance industry. In addition, Procon's Fleet Services subsidiary is one of the fastest growing providers of GPS-enabled fleet management solutions in the United States. The executive teams at both Procon and Enfotrace will remain in place, directing strategy and managing business operations.
"We have been looking for an institutional partner that shared our vision and enthusiasm for the opportunity ahead," said Brian Boling, CEO of Procon. "The partnership with Bertram Capital will enable us to provide our customers with breakthrough technology solutions and superior customer service. Additionally, we will re-invest in our business to develop new market opportunities and execute select strategic acquisitions."
Bertram Capital has spent considerable time studying the location based services market and is excited to capitalize on the new opportunities afforded through this partnership. "As two of the leading players in the vehicle finance industry, Procon and Enfotrace serve a large and diverse customer base and generate unit volumes that we had not seen in any other sector of the location based services market," said Jared Ruger, Partner at Bertram Capital. "We are excited to leverage these scale advantages to expand the company's product offering to adjacent markets. We believe Procon and Enfotrace offer a breadth of products and a value proposition that are quite difficult to match."
"We are excited to be joining forces with Bertram Capital. We have been approached by a number of firms over the past year, but we were impressed with their knowledge of our market space and their commitment to the next phase of our growth strategy," said Ken Wiesner, CEO of Enfotrace. "This partnership will provide Enfotrace with the resources and platform necessary to further expand our product and services into new applications."
Headquartered in Knoxville, TN, ProconGPS is the industry leader and world's largest provider of mobile resource management products and services to the subprime automotive finance industry. Solutions from ProconGPS reduce the costs, complexities and risks associated with managing mobile assets. ProconGPS currently has over 700,000 GPS tracking units in service throughout the US, Canada and Mexico. For more information, visit www.proconmrm.com.
Enfotrace is one of the fastest growing companies in the subprime automobile finance industry. The company is headquartered in Irvine, CA, and currently has over 300,000 units deployed throughout the U.S., Canada and Mexico. For more information, visit www.enfotrace.com.
About Bertram Capital
Founded in 2006, Bertram Capital is a private equity investment firm with more than $850 million in capital under management. Bertram Capital's mission is to build value for equity holders, employees, customers, and partners by helping already profitable companies realize their full potential. Visit www.bertramcapital.com for more information.
SOURCE Bertram Capital