BearCom is excited to announce our acquisition by Siris, a leading private equity firm focused on investing and driving value creation in technology companies from Bertram Capital, a middle market private equity firm headquartered in Foster City, California.

Siris' investment in BearCom will provide additional resources and expertise to help accelerate BearCom's growing traction in providing video and other physical security technologies, private data networks, and DAS systems to enterprise customers and complex, large-scale live entertainment and industrial events. This partnership will allow us to continue to grow both organically and through acquisitions, while investing in our people and expanding into adjacent technologies like physical security, video surveillance, and other networking solutions, to better serve our customers.

Since 1981, BearCom has been a trusted provider of land mobile radio systems for customers across North America. With over 1,000 employees, including 350+ highly trained service technicians in the United States and Canada, BearCom delivers tailored product solutions and technical services to support safety, security, and value throughout the equipment lifecycle.

BearCom serves customers in various industries, including distribution, manufacturing, chemicals, construction, energy, transportation, live events, and the public sector. We operate from 60+ branch locations and are the largest integrator of Motorola's two-way radio systems.

"Les and the team have built a compelling company vision and customer-first culture. I am deeply impressed with BearCom's focus on deploying highly engineered technologies and expertise to deliver end-to-end solutions to customers across industries to improve safety, security and productivity," said Jeff Jacobson, an Executive Partner at Siris. "I look forward to working with BearCom as it scales its capabilities and operations over the coming years."

BearCom's existing commitment to quality and innovation are well-recognized by key industry partners, including a longstanding Platinum Channel Partner and Service Elite Specialist relationship with Motorola Solutions in recognition of its strong sales performance and high-quality service capabilities. BearCom has also announced partnerships with Amazon Web Services, Athonet by Hewlett Packard Enterprise, Ericsson Cradlepoint, Fujitsu, Boingo, and Evolv Technology.

"BearCom has been on an impressive trajectory in recent years, and Siris' technology expertise makes it the ideal partner to propel our next chapter of growth," said Les Fry, Chief Executive Officer of BearCom. "With Siris' support, we will focus investments on broadening our product portfolio and deepening our service capabilities. I also want to express my gratitude to Bertram Capital for their partnership and support over the past five years."

The transaction is expected to close around year-end 2023, subject to regulatory approvals and other customary closing conditions.

Sidley Austin LLP served as legal advisor to Siris. Piper Sandler and BlackArch Partners served as financial advisors and Hirschler LLP served as legal advisor to BearCom and Bertram Capital.

About BearCom

BearCom is a company that specializes in data solutions. Since being founded in 1981, BearCom has grown to include over 75 branch locations, over 1,100 employees, and ships over 165,000 two-way radios annually. BearCom is North America’s leading partner for private LTE networking. www.bearcom.com

About Siris

Siris is a leading private equity firm that invests primarily in mature technology and telecommunications companies with mission-critical products and services, facing industry changes or other significant transitions. Siris is based in New York and West Palm Beach and has raised nearly $6 billion in cumulative capital commitments. www.siris.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 $3B of capital commitments. Visit www.bcap.com for more information.