sale to Levine Leichtman Capital Partners

Technology & Services
sale to Levine Leichtman Capital Partners

Summary

Baird served as the exclusive financial advisor to Smith System Driver Improvement Institute, Inc.

About

Smith System Driver Improvement Institute, Inc. (“Smith” or the “Company”), a portfolio company of Transportation Resource Partners (“TRP”), was recently acquired by Levine Leichtman Capital Partners (“LLCP”). Terms of the transaction were not disclosed.

Smith is a market leader for driver training solutions for commercial fleets. Throughout the Company’s 60+ year history, Smith has assembled a customer base that relies on the Company to deliver cost effective driver training programs that improve accident rates and decrease the costs associated with negative driving behaviors. The Company has a unique, flexible training model as Smith delivers its content through its pool of highly knowledgeable instructors. In addition, Smith offers an e-learning solution that complements and supplements its on-road and classroom training solution. Recently, the Company introduced two innovative technology-based products consistent with its strategy of providing holistic solutions to commercial fleets encompassing all aspects of effective accident avoidance management. This includes the Company’s recent introduction of a proprietary driver management software solution, which automates driver data collection into one spot for all driver management actions and a telematics-based GPS solution tied to training and driver behavior improvement. The Company is headquartered in Arlington, Texas with an additional office in London, United Kingdom.

Transportation Resource Partners seeks to make investments in growth-oriented businesses in the transportation sector. TRP capitalizes on strategic relationships, commercial synergies and the transportation expertise of Penske Corporation and its subsidiaries, partners and affiliates. TRP's philosophy is to support existing management teams while giving them autonomy to run the business. TRP's principals have 100+ years of experience in the areas of finance and transportation-related investing. TRP has offices in Berkeley Heights, New Jersey and Bloomfield Hills, Michigan.

Levine Leichtman Capital Partners is a private investment firm with offices in Los Angeles, New York, Dallas, Chicago and London. LLCP manages approximately $7.0 billion of institutional capital for investment in U.S. middle market companies. LLCP invests through private equity partnerships and various debt and leveraged loan funds and is currently making new investments through Levine Leichtman Capital Partners V, L.P., Levine Leichtman Capital Partners SBIC Fund, L.P. and Levine Leichtman Capital Partners Private Capital Solutions, L.P. Prior investments by Levine Leichtman Capital Partners include Santa Cruz Nutritionals, CiCi’s Pizza, Hackney Ladish and Jon Douglas Real Estate Group.

For additional information about this transaction, please contact:

Andrew Snow 312-609-4972
Tom Lacy 414-298-7648
Dan Alfe 312-609-4922
Jonathan Harrison +44-207-667-8414
Jae Kim 312-609-4939
Technology & Services
sale to Levine Leichtman Capital Partners
Date
June 2014
Company
Smith System Driver Improvement Institute, Inc.
Transaction
M&A
Sectors
Technology & Services
Target Location
North America
Acquiror Location
North America

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