Case Study: Spireon
Bertram Capital employed The Bertram Capital High 5sm to build a leading provider of vehicle analytics and telematics solutions to the automotive and commercial transportation sectors.
Company
Spireon provides location based services and risk mitigation products, delivering GPS tracking solutions and payment protection systems for the subprime automotive finance and fleet management industries.
Acquired
February 2011
Exited
October 2018 through a sale to Greenbriar Equity Group, LLC
Transaction
Overview
Bertram Capital acquired mobile resource management solution businesses Procon and Enfotrace to form Spireon, Inc. in February of 2011. Post acquisition, Bertram Capital expanded the Company’s sales and marketing capabilities while pursuing multiple strategic add-ons to drive revenue growth. The Bertram Labs Team modernized Spireon’s technology systems and improved overall communication and fulfillment processes with Spireon’s customer base. In October of 2018, Bertram Capital announced the sale of Spireon to Greenbriar Equity Group, LLC.
Sales Channel
Sales & Marketing:
Grew sales team from 108 to 197.
Product Extension:
Grew from primarily serving the independent used car dealer segment to servicing commercial fleet, transportation and new car dealers.
Management
Added:
CEO, CFO, CMO, CIO, SVP Engineering, SVP Fleet
Add–Ons
EnfoTrace: February 2011
INILEX: July 2015
PositionPlus: October 2015
Technology
Results:
Rebuilt platform to handle messages from millions of devices a day; consolidated software applications from fourteen to one; streamlined order fulfillment process.
Supply Chain
Results:
Third party collaboration to develop lower cost high quality hardware design.
