Levine Leichtman to Acquire Smith System
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Levine Leichtman to Acquire Smith System

smith nf1Levine Leichtman Capital Partners has partnered with management to complete the acquisition of Smith System Driver Improvement Institute (“Smith”).  Smith is the third investment from Levine Leichtman Capital Partners Fund V, LP.

Smith is considered the pioneer and market leader in accident avoidance training for fleet vehicle drivers. Smith works with fleet managers of any vehicle type to provide training programs and content resources to change driver behaviors by focusing on Smith’s 5 Keys to On Road Driver Safety®. Smith has trained millions of drivers in over 100 countries and in 22 languages through its on-road, classroom, e-learning and new technology-based training and driver improvement programs making it the most comprehensive driver management solution provider. The company was founded in1952 and is based in Arlington, TX.

“Smith System is a truly unique company offering its customers programs and content to invest in the safety of their employees, while also reducing accident rates and decreasing fleet operating costs.  We are excited to partner with Tony Douglas and the rest of the Smith senior management team and look forward to continuing its history of best-in-class training programs,” said to Lauren Leichtman, Co-Founder and CEO of LLCP.

Tony Douglas, Smith’s Chief Executive Officer, and his management team will retain significant ownership in the company and will continue to lead Smith.  Regarding the transaction, Tony Douglas commented, “I am very excited about partnering with LLCP as the company seeks to further strengthen its global market position and advance into its next stage of growth.  LLCP has a long history of being a value-added partner to its portfolio companies through their strategic, financial and M&A expertise, and I expect our partnership to contribute meaningfully to the continued growth of our business.”

Levine Leichtman manages approximately $7 billion of capital through private equity partnerships, distressed debt and leveraged loan funds. The firm is currently making new investments through Levine Leichtman Capital Partners V, LP; Levine Leichtman Capital Partners SBIC Fund, LP; and Levine Leichtman Capital Partners Private Capital Solutions II, LP. The firm is based in Los Angeles with offices in Chicago, Dallas, New York and London (www.llcp.com).

Smith System was advised by Robert W. Baird & Co. Incorporated.

2014 PEPD • Private Equity’s Leading News Magazine • 6-10-14

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