Bertram Capital announced it has completed the sale of its portfolio company NEFCO Holding Company LLC to Leonard Green & Partners, marking Bertram’s second exit from its Fund IV and its 23rd realization since the firm launched in 2006. Financial terms were not disclosed.
NEFCO, which is headquartered in Hartford, Connecticut, is a value-added distributor serving professional contractors nationwide with a mix of SHARP® (Strut, Hardware, Anchors, Rod and Pipe Hangers) products, along with tools, safety items, and jobsite consumables. The company operates a broad branch network with more than 70 locations across the U.S. and also provides engineering services, as well as specialty fabrication and assembly, to support complex construction and industrial projects.
Bertram invested in NEFCO in August 2022 and positioned the business to scale from a regional distributor into a national platform. Over the holding period, the company expanded its geographic footprint, increased its engineering and fabrication capabilities, and pursued a buy-and-build strategy through multiple acquisitions. Bertram also highlighted “orangefield” expansions—new facility growth tied closely to existing operations—alongside investments in technology, logistics, and sales enablement to support a larger customer base and faster, more dependable job-site delivery.
NEFCO’s growth has been tied to demand across several end markets, including data centers, infrastructure, and healthcare, where contractors often require both local inventory depth and value-added services such as kitting, assembly, and engineered solutions. Bertram credited NEFCO’s management team and the firm’s internal operating resources, including Bertram Labs, for helping accelerate organic and acquisition-driven expansion while building out systems and processes for a larger national footprint.
Advisors on the transaction included Solomon Partners, which led the sale process, along with Houlihan Lokey and law firm Hirschler, according to Bertram. Leonard Green’s acquisition adds NEFCO to its portfolio as the distributor continues to build scale in specialty construction supply and value-added distribution.
KEY QUOTES:
“The successful sale of NEFCO builds on our proven track record of scaling high-quality specialty distribution platforms. By partnering with strong management teams and executing strategic M&A and organic investment, we have created a differentiated franchise that continues to deliver compelling outcomes.”
Kevin Yamashita, Partner, Bertram Capital
“NEFCO exemplifies the type of high-quality business we seek to partner with – a market leader with strong customer relationships, a differentiated value proposition, and an exceptional management team. Working alongside the NEFCO leadership team, we accelerated the Company’s growth through strategic acquisitions, organic expansion, and technology initiatives supported by Bertram Labs.”
Chris Brown, Partner, Bertram Capital
“Bertram was a true partner to NEFCO. Their experience in industrial value-added distribution and commitment to supporting our long-term vision were instrumental in helping us aggressively scale the business while preserving our culture and customer-first mindset.”
Matt Gelles, President and CEO, NEFCO
