Tactacam, a provider of cellular-connected cameras for outdoor and security markets, announced the closing of its sale to GTCR, a Chicago-based private equity firm. GTCR acquired the company from Bertram Capital and Tactacam’s founders, while CEO and co-founder Jeff Peel will continue leading Tactacam and retain significant ownership alongside co-founder Ben Thorud.
Founded in 2013 and headquartered in Billings, Montana, Tactacam develops cellular-connected trail and security cameras supported by proprietary software and subscription services. The company currently serves more than one million subscribers across the United States, giving it a significant installed base across outdoor recreation and property monitoring markets.
Tactacam helped establish the cellular trail camera category with the 2020 launch of its Reveal product line, which allows users to remotely view wildlife through real-time image feeds delivered through the company’s proprietary mobile application. The platform is designed to give customers access to cameras in locations where traditional Wi-Fi connectivity may not be practical.
The company subsequently expanded beyond the outdoor market. In 2024, Tactacam launched Defend, a line of cellular-connected security cameras designed for monitoring residential and commercial properties outside the range of traditional Wi-Fi-enabled security products. The expansion gave Tactacam another application for the cellular camera, software, and subscription technology developed through its Reveal business.
Under GTCR’s ownership, the companies plan to make new investments in product development and expanded distribution, with a focus on extending Tactacam’s position in cellular-connected cameras while continuing to invest in product quality and customer support. GTCR specifically sees opportunities to grow both the Reveal and Defend platforms as Tactacam expands across consumer and commercial use cases.
The investment also builds on GTCR’s experience with consumer subscription and video-based monitoring businesses. The firm’s previous investments in the sector include Protection 1, GreatCall and Lytx, while its current portfolio includes Everon, SimpliSafe and Consumer Cellular.
J.P. Morgan Securities, Jefferies and Houlihan Lokey served as financial advisors to Tactacam, while Latham & Watkins provided legal counsel. UBS Securities advised GTCR financially, and Kirkland & Ellis served as its legal counsel.
GTCR has invested more than $35 billion across over 300 companies since its founding in 1980 and currently manages $45 billion in equity capital. The firm invests across business and consumer services, financial services and technology, healthcare, and technology, media and telecommunications.
KEY QUOTES:
“We built Tactacam by staying close to the customer and understanding how they use our products, whether they are watching wildlife or monitoring a property. Our partnership with GTCR will support continued investment in Reveal and Defend while preserving that focus on the customer value proposition.”
Jeff Peel, CEO and Co-Founder of Tactacam
“Tactacam brings together connected cameras, proprietary software and subscription services in a platform serving more than one million subscribers. That combination is a strong fit with our experience investing in technology-enabled consumer and commercial subscription businesses. We look forward to partnering with Jeff and his team to build on Tactacam’s business.”
David Donnini, Managing Director and Head of Business & Consumer Services at GTCR
“With Defend, Tactacam has taken the cellular camera platform it built for the outdoor market and applied it to another practical need: monitoring residential and commercial properties beyond the reach of Wi-Fi. We see an opportunity to build on that expansion through investment in product development and distribution, alongside continued investment in Reveal.”
Tom Ehrhart, Managing Director at GTCR
