Bertram Capital, San Mateo, Calif., announced an investment in Registrar Corp., a Hampton, Va.-based provider of FDA-compliant SaaS services to domestic and foreign food facilities. Registrar maintains 18 international offices; its employees include former U.S. FDA officials, scientists and industry experts.
"We have pursued a thesis in the food safety and compliance market for the past four years. The confluence of our thesis and Bertram Labs' software proficiency made Registrar a compelling target. The Registrar team's objectives aligned perfectly with our strength and drive to bring IT excellence to our companies, and we are delighted to partner with Registrar's management to deliver that objective," says Tom Beerle, principal at Bertram Capital. "We believe the company's growth and market position are representative of Registrar's superior expertise in regulatory matters, innovative technology-first mentality and proven commitment to customer service."
Registrar's co-founders Thomas Fass and David Lennarz will retain significant ownership and leadership roles in the company going forward.
"We believe now is the right time to partner with an investor to support our continued growth," says Lennarz. "While we had a lot of options in picking a partner, we believe Bertram's dedicated technology and digital marketing resources are going to be uniquely valuable, as we continue to expand the services and products we offer our customers."
"As the head of technology and marketing, I was particularly intrigued by the Bertram Labs story," adds Fass. "While our team has achieved great success in building a much-needed solution for our clients, the access to Bertram Labs' software and digital marketing resources is a powerful tool that complements our team, and will accelerate the launch of new products and services."
"Registrar represents the exact situation we look for as an investor—great management team, favorable market conditions and an opportunity for the Bertram Labs team to be a truly value-added partner," says Jeff Drazan, managing partner of Bertram. "Tom Beerle did an outstanding job of leading this deal to a successful close and was supported by David Hellier who sourced the transaction, Tom Long, head of growth and digital marketing for Bertram Labs, and Michael Henkels, deal team associate. I would also like to thank Franklin Staley, managing director, and the team at DCS Advisory, who introduced us to this opportunity and ran a very professional process."