Babson Capital Management was the joint lead arranger and bookrunner on a senior secured credit facility to support ABRY Partners’ recent acquisition of Safety Holdings (DBA SambaSafety), a provider of cloud-based data services on unsafe driving behavior. SambaSafety was owned by Cerca Group and Ticonderoga Private Equity which acquired the company in November 2011.
SambaSafety is a provider of cloud-based data services targeted at unsafe driving behavior. Customers include employers, insurance companies, background screeners and fleet management companies. The information is used to identify and address unsafe driving behavior to allow insurance carriers to accurately price risk throughout the lifecycle of insurance policies. SambaSafety is led by its CEO Richard Crawford and is based in Albuquerque (www.SambaSafety.com).
“Babson has been a reliable partner to ABRY Partners on multiple transactions, and their involvement was invaluable in completing our investment in SambaSafety,” said Nathan Ott, principal for ABRY Partners. “In addition to its deep experience in providing middle-market financing solutions, Babson offers a partner-like approach focused on meeting the needs of sponsors and borrowers, and we look forward to working with the team again soon.”
Babson Capital has $231 billion in assets under management and is a member of the MassMutual Financial Group. The firm has offices in Boston and Springfield, MA; New York, Chicago, Charlotte and Los Angeles, and nine other offices in Europe, Asia and Australia (www.BabsonCapital.com).
“Babson deeply values our relationship with ABRY Partners and we appreciate the opportunity to partner with them on the acquisition of SambaSafety,” said Brian Baldwin, managing director in Babson’s North American Private Finance Group. “SambaSafety offers a compelling value proposition at a time when driving-related risks to employers are growing, and we are confident that SambaSafety’s experienced management team can leverage potential growth opportunities with the support of ABRY Partners’ expertise and resources.”
ABRY invests in the media, communications, and business and information sectors. The firm is currently managing $4.3 billion of total capital and investing out of a $1.9 billion private equity fund, a $950 million senior equity fund and a $1.5 billion senior debt fund. ABRY was founded in 1989 and is headquartered in Boston (www.abry.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-25-16
