Bertram Capital Secures New Industrial Distribution Platform with Investment in APPLIED Adhesives

FOSTER CITY, Calif., April 15, 2025 /PRNewswire/ -- Bertram Capital ("Bertram") announced today that it has made an investment in Applied Products, Inc. ("APPLIED Adhesives" or "APPLIED"), a leading value-added distributor and manufacturer of adhesive solutions serving industrial customers across North America. APPLIED represents Bertram's fourth investment in a value-added industrial distribution platform and third platform investment in Fund V. Terms of the transaction were not disclosed.

Headquartered in Minnetonka, Minnesota, APPLIED Adhesives has grown into one of North America's largest independent adhesive distributors through its commitment to technical expertise, product innovation, and customer service. The company provides customized adhesive solutions across a wide range of end markets, including packaging, paper converting, product assembly, automotive, and other industrial end markets. APPLIED's comprehensive product offerings include hot-melt, water-based, and structural adhesives as well as other specialty adhesive parts and equipment. This expertise is supported by a team of technical experts and a full suite of value-added services including equipment installation and maintenance.

"APPLIED Adhesives has established itself as a leading partner to both customers and manufacturers in the specialty adhesives product category," said Kevin Yamashita, Partner at Bertram Capital. "The company's strong customer relationships, technical capabilities, and proven M&A playbook provide an ideal foundation for continued growth, both organically and through strategic acquisitions. We intend to leverage the capabilities of our in-house technology team, Bertram Labs, to find opportunities to drive revenue growth, support M&A integration and improve business efficiencies. We are thrilled to partner with such a fantastic business and team."

Bertram Capital intends to partner with the APPLIED Adhesives leadership team to support the company's next phase of growth. John Feriancek will continue in his role as CEO, alongside the existing executive team.

"We are very excited to partner with Bertram as we continue to build on APPLIED Adhesives' strong foundation," said John Feriancek, CEO of APPLIED Adhesives. "Bertram's experience within the industrial distribution sector and the shared vision in the value creation strategy differentiated Bertram in the sale process. We look forward to leveraging Bertram's operating capabilities, including the Bertram Labs team, to continue to accelerate growth."

Bertram would like to recognize the investment banking team at Houlihan Lokey, led by Reed Anderson, Tony Meixelsperger, and Ben Blohm, for their efforts in closing this transaction and making this partnership possible.

About APPLIED Adhesives

APPLIED Adhesives is a value-added distributor of adhesive products and equipment solutions in North America. With a comprehensive offering of adhesive technologies from the industry's leading manufacturers, APPLIED serves customers across a broad range of industries. The company is recognized for its technical expertise, exceptional service, and commitment to delivering tailored adhesive solutions that improve performance and efficiency. www.appliedadhesives.com

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 $4.0 billion in capital commitments. In addition to providing strategic growth capital, Bertram Capital leverages proprietary processes and services, including Bertram High-5^SM and Bertram Labs, to help its portfolio companies unlock their full potential.

Bertram High-5^SM is an operationally focused value-creation strategy that includes management augmentation, operational initiatives, complementary acquisitions, sales and marketing improvements, and technology integration. Bertram Labs, the firm's in-house technology team, drives growth through digital marketing, e-commerce, big data and analytics, application development, and platform optimization.

Bertram Capital V focuses on control investments in business services, consumer, and industrial sectors with EBITDA above $7.5 million. Bertram Ignite I focuses on both control and non-control investments in similar sectors, with a minimum EBITDA of $3 million.

For more information, visit www.bcap.com.

Contact:
David Hellier, Partner
[email protected]
650-358-5000

SOURCE Bertram Capital