The Sterling Group Acquires Seon Design
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The Sterling Group Acquires Seon Design

seon nf1Safe Fleet Holdings, a portfolio company of The Sterling Group, has completed the acquisition of Seon Design, a manufacturer of video surveillance equipment used in the school and transit bus markets.

“Seon has developed and built an industry-leading software and hardware platform for mobile surveillance and fleet asset tracking and management,” said John Knox, Safe Fleet President and CEO.  “The Seon products and capabilities are a great addition to Safe Fleet’s existing portfolio and will help us further serve our fleet vehicle customers.”

Seon is a manufacturer of video surveillance and fleet management products used in the school and transit bus markets.  The company also offers fleet management products used for live vehicle tracking, passenger ridership tracking, and school bus routing. Seon was founded in 1999 and is based in Coquitlam, BC (www.seon.com).

Seon is Safe Fleet’s second add-on acquisition in the last nine months. In December 2013, Fire Research Corporation, a Safe Fleet subsidiary, completed the acquisition of FoamPro from Pentair. FoamPro manufacturers foam proportioning and refill systems that are used by firefighters worldwide (www.foampro.com).

Safe Fleet provides safety-and productivity-oriented products used in the emergency vehicle, truck and trailer, utility vehicle, school bus, and transit bus end markets. Company brand names include ROM, Bustin, Prime Design, FRC, Specialty Manufacturing (SMI), Pretoria, Transpec, FoamPro, and now Seon.  Safe Fleet was formed through the simultaneous acquisitions of ROM Corporation and Specialty Manufacturing in 2013.  The company is headquartered south of Kansas City in Belton, MO (www.safefleetsolutions.com).

gary rosenthal nf1“Safe Fleet is committed to increasing its ability to provide critical safety products to its loyal customer base,” said Gary Rosenthal, a Partner at The Sterling Group.  “Safe Fleet will continue to pursue new acquisition opportunities to expand the products and solutions it offers its fleet vehicle customers.”

The Sterling Group targets controlling interests in basic manufacturing, industrial services and distribution companies that have enterprise values from $100 million to $500 million. Sterling has sponsored the buyout of 45 platform companies and numerous add-on acquisitions for a total transaction value greater than $10 billion. Currently, Sterling has over $1 billion of assets under management through three funds. Current portfolio companies include CST Industries, Universal Fiber Systems, Express, B&G Crane, Saxco International, Liqui-Box, Dexter Axle, Safe Fleet and Roberts-Gordon.  The firm was founded in 1982 and is headquartered in Houston (www.sterling-group.com). 

2014 PEPD • Private Equity’s Leading News Magazine • 9-23-14

 

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