Bay Area private equity firm Bertram Capital announced Wednesday that it has sold construction supply distributor NEFCO to Los Angeles firm Leonard Green & Partners.
Bertram added NEFCO in 2022 and noted that the Connecticut-based distributor has “significantly expanded its geographic footprint, enhanced its value-added engineering and fabrication capabilities, and executed a disciplined buy-and-build strategy, including multiple strategic acquisitions and orangefield expansions” under its ownership.
NEFCO officials said that LGP would work to accelerate its growth in key markets, bolster its capabilities and pursue additional "strategic initiatives.” Terms of the deal were not disclosed.
“As we enter our next chapter, LGP brings the experience, resources and shared values that will help propel our continued expansion while preserving the culture that has made NEFCO special,” NEFCO President and CEO Matthew Gelles said in a statement.
“We invest in companies that win with people, have a differentiated culture, and are market leaders with multiple ways to grow – and NEFCO is a perfect example,” added LGP Senior Partner Jonathan Seiffer.
