Bertram Capital has made an investment in Dallas-based Perennials and Sutherland LLC, a maker of 100 percent solution-dyed acrylic performance fabric for indoor and outdoor use and luxury outdoor furniture. No financial terms were disclosed.
SAN MATEO, Calif., Feb. 5, 2019 /PRNewswire/ — Bertram Capital (“Bertram”) announced today its investment in Perennials and Sutherland, LLC, a leading designer and manufacturer of 100 percent solution-dyed acrylic performance fabric for indoor and outdoor use and luxury outdoor furniture serving a wide range of residential and commercial customers. Based in Dallas, Perennials and Sutherland is the eighth platform acquisition completed in Bertram’s third fund. Terms of the transaction were not disclosed.
“Over the past two decades, Perennials and Sutherland has established itself as a clear leader in a high-growth and attractive market,” said Tim Heston, Partner at Bertram Capital. “The Company’s compelling growth and market position reflect its superior product offering, differentiated design and manufacturing capabilities, as well as its entrenched relationships within the trade and retail channels. We are excited to support and help expand the Company’s customer and supplier relationships, manufacturing and design capabilities, and unique product offering that make it so special in its industry.”
“As a market leader in a niche sector that continues to benefit from favorable secular tailwinds, Perennials and Sutherland, in partnership with Bertram Capital, is well-positioned to enter its next phase of growth. Bertram is excited to partner with the Sutherlands to take Perennials and Sutherland to the next level of growth and market presence,” added Jeff Drazan, Managing Partner of Bertram Capital. “I am also pleased that Perennials and Sutherland co-founders, Ann and David Sutherland, will remain actively involved in operations and retain significant ownership in the Company.”
“We are truly excited to partner with Bertram Capital to help us pursue our next phase of growth, further solidify our leading market position and strengthen our operations. The Bertram team differentiated itself in the sale process through its clear understanding of our brand, our products and the favorable adoption trends in our market. We are equally excited about their shared enthusiasm for our growth potential and the tech capabilities Bertram Labs can bring to our business. We look forward to this new partnership with Bertram and our shared vision for the future of the Company,” concluded Ann Sutherland, Co-founder & CEO of Perennials and Sutherland.
Bertram would like to recognize the teams at Piper Jaffray and Hirschler Fleischer for their efforts in closing this transaction and making this partnership possible.
About Perennials and Sutherland
Perennials and Sutherland is a leader in the performance fabric and luxury outdoor furniture market. For more information, visit www.perennialsandsutherland.com.
About Bertram Capital
Bertram Capital is a private equity firm with over $1.4 billion in committed capital targeting investments in lower middle market companies. In addition to supplying strategic growth capital, Bertram Capital leverages proprietary processes and services, Bertram High-5SM and Bertram Labs, to empower its portfolio companies to unlock their full potential. The Bertram High-5SM is an operationally-focused value creation strategy, which includes supporting management, implementing operational initiatives, acquiring complementary businesses, enhancing sales and marketing efforts, leveraging technology and IP. The cornerstone of this strategy is Bertram Labs, its in-house technology team, which drives growth and value through digital marketing, e-commerce, big data and analytics, application development and internal and external platform optimization. Visit www.bertramcapital.com for more information.