Smith System Announces Acquisition of Driving Dynamics
ARLINGTON, Texas--(BUSINESS WIRE)--Jan 9, 2023--
Smith System Driver Improvement Institute, Inc. (“Smith System”), a portfolio company of Levine Leichtman Capital Partners, LLC (“LLCP”), announced today that it has acquired Driving Dynamics, Inc. (“Driving Dynamics”).
Based in Newark, Delaware, Driving Dynamics provides driver safety training services for commercial fleet clients across the U.S. Over its 30-year history, Driving Dynamics has developed innovative offerings of virtual and in-person classroom training, behind-the-wheel exercises, eLearning content, and driver risk management programs to improve driver safety and lower fleet crash rates.
“Driving Dynamics brings a wealth of talent and an exciting complement of driver safety training capabilities and curricula to Smith System,” commented Tony Douglas, CEO and President of Smith System. “Driving Dynamics builds on Smith System’s prior acquisitions of OQSG and Driver’s Alert, and further solidifies our market-leading position as one of the fastest-growing and most comprehensive providers of workplace safety training services.”
Debbie Balestra, Vice President and General Manager of Driving Dynamics, added, “We are excited to join Smith System and to serve our current and prospective customers with an expanded set of safety training capabilities.”
Smith System is a portfolio company of Levine Leichtman Capital Partners Fund V, L.P. (“LLCP”).
Honigman LLP acted as legal counsel to Smith System and LLCP on the transaction.
About Smith System
Smith System is a leading provider of workplace safety training solutions for large commercial fleets, helping its customers (i) reduce costs associated with negative operating behaviors, and (ii) comply with stringent regulations. The company delivers its training content through multiple, convenient delivery formats (on-road, classroom, and eLearning) and has trained millions of employees in over 100 countries and in 15+ languages. Smith System was founded in 1952 and is headquartered in Arlington, Texas.
About Levine Leichtman Capital Partners
Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 39-year track record of successfully investing across various targeted sectors including education, professional services, franchising and engineered products. LLCP utilizes a differentiated Structured Equity investment strategy, combining debt and equity capital investments in portfolio companies. This unique structure provides a less dilutive solution for management teams and entrepreneurs, while delivering growth and income with a significantly lower risk profile.
Since inception, LLCP has managed over $13.2 billion of institutional capital across 15 investment funds and has invested in over 100 portfolio companies. LLCP currently manages $8.6 billion of assets and has offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Frankfurt, Stockholm and The Hague.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230109005290/en/
CONTACT: Mark Semer/Sara Widmann
Gasthalter & Co.
(212) 257 4170
KEYWORD: UNITED STATES NORTH AMERICA TEXAS DELAWARE
INDUSTRY KEYWORD: FLEET MANAGEMENT TRAINING GENERAL AUTOMOTIVE TECHNOLOGY OTHER EDUCATION AUTOMOTIVE OTHER TRANSPORT EDUCATION TRUCKING TRANSPORT OTHER AUTOMOTIVE OTHER TECHNOLOGY
SOURCE: Levine Leichtman Capital Partners, LLC
Copyright Business Wire 2023.
PUB: 01/09/2023 08:17 AM/DISC: 01/09/2023 08:17 AM