By Abigail Summerville
Feb 17 (Reuters) – The private equity owner of Tactacam is exploring a sale that could value the maker of cameras and surveillance technology for hunters and outdoor enthusiasts at more than $1.5 billion, according to people familiar with the matter.
Bertram Capital, which acquired Tactacam in 2023, is working with investment bank JPMorgan on the sale process, which is at an early stage, the sources said.
JPMorgan declined to comment. Bertram and Tactacam did not respond to requests for comment.
Based in Decorah, Iowa, Tactacam was founded in 2013 by outdoorsmen Ben Stern, Jeff Peel and Tara Peel with one point-of-view camera. Now, the company makes Reveal cellular trail cameras, outdoor surveillance cameras and AI-powered bird feeders that are sold at retailers like Walmart, Bass Pro Shops and Amazon.
The company expects to generate over $150 million in earnings before interest, taxes, depreciation and amortization (EBITDA) this year, the sources said. It has posted three-year revenue growth of 324%, according to an August 2025 report.
Other private equity firms have invested in outdoor and hunting gear. In 2024, Platinum Equity acquired outdoor and sporting goods company GSM Outdoors, which also has a surveillance camera brand, for around $1.6 billion.
Bertram has raised over $4 billion in capital commitments and focuses on investments in the business services, consumer, and industrial sectors.
(Reporting by Abigail Summerville in New York; Editing by Echo Wang and Nia Williams)
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