Bertram Capital has launched a new platform in the location based services industry through a partnership with the executive teams at ProconGPS, Inc and Trackn Inc (Enfotrace).
Procon and Enfotrace are two of the leading providers of risk mitigation products, most notably GPS tracking solutions and payment protection systems, to the North American subprime automobile finance industry. In addition, Procon’s Fleet Services subsidiary is one of the fastest growing providers of GPS-enabled fleet management solutions in the United States. The executive teams at both Procon and Enfotrace will remain in place, directing strategy and managing business operations.
"We have been looking for an institutional partner that shared our vision and enthusiasm for the opportunity ahead," says Brian Boling, CEO of Procon. "The partnership with Bertram Capital will enable us to provide our customers with breakthrough technology solutions and superior customer service. Additionally, we will re-invest in our business to develop new market opportunities and execute select strategic acquisitions."
Bertram Capital has spent considerable time studying the location based services market and is excited to capitalise on the new opportunities afforded through this partnership.
"As two of the leading players in the vehicle finance industry, Procon and Enfotrace serve a large and diverse customer base and generate unit volumes that we had not seen in any other sector of the location based services market," says Jared Ruger (pictured), Partner at Bertram Capital. "We are excited to leverage these scale advantages to expand the company’s product offering to adjacent markets. We believe Procon and Enfotrace offer a breadth of products and a value proposition that are quite difficult to match."
