Smith System Driver Improvement Institute, a portfolio company of Levine Leichtman Capital Partners, has acquired Driving Dynamics. Levine Leichtman acquired Smith System through its fifth fund in June 2014.
Driving Dynamics provides driver safety training services for commercial fleets across the United States. The company offers virtual and in-person classroom training, behind-the-wheel exercises, eLearning content, and driver risk management programs. Driving Dynamics is headquartered 45 miles southwest of Philadelphia in Newark, Delaware.
Smith System was founded by Harold Smith and is considered the pioneer and market leader in accident avoidance training for fleet vehicle drivers. After serving in the United States Navy during World War II as the operator of a troop landing craft, Mr. Smith opened Detroit’s first driving school – “The Safeway Driving School” – in 1948. Four years later, Mr. Smith founded Smith System Driver Improvement Institute to increase the safety of commercial drivers by learning five rules to provide space, visibility, and time to reduce the chance of a major accident.
Today, Arlington, Texas-headquartered Smith System, led by CEO Tony Douglas, has trained millions of drivers in more than 100 countries – more than half of Fortune 500 fleets use Smith System for driver safety training – and integrates driver training with telematics, driver scoring metrics, and predictive risk analysis.
“Driving Dynamics brings a wealth of talent and an exciting complement of driver safety training capabilities and curricula to Smith System,” said Mr. Douglas. “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.” Louisiana-based OQSG (Operator Qualification Solutions Group) was acquired in November 2018 and Florida-based Driver’s Alert was acquired in February 2020.
Levine Leichtman invests in US and Europe-based middle-market companies across industries including franchising, business services, education, engineered products, healthcare and light manufacturing. The firm closed its most recent fund, LLCP Lower Middle Market Fund III LP (Fund III), at an oversubscribed $1.38 billion in September 2021.
Since its founding in 1984 by Arthur Levine and Lauren Leichtman, LLCP has managed approximately $13.2 billion of institutional capital across 15 investment funds and has invested in over 90 portfolio companies. LLCP currently has $8.9 billion of assets under management with offices in Los Angeles, New York, Chicago, Charlotte, Miami, London, Stockholm, The Hague and Frankfurt.
© 2023 Private Equity Professional | January 13, 2023
Gridiron Capital has completed its acquisition of Esquire Deposition Solutions, a national provider of remote and in-person court reporting, video, and interpreting services.
“We’re pleased to partner with the talented Esquire management team and leverage our expertise and track record of successfully investing in outsourced legal services and human capital management businesses – two of Gridiron’s Thematic Areas of Expertise – to support and accelerate Esquires growth plans,” said Tom Burger, a co-founder and managing partner of Gridiron.
Cortec Group has acquired A1 Garage Door Service, a provider of direct-to-consumer residential repair and replacement garage door services.
“A1 is the premier national platform in the residential garage services industry,” said Doug Kruep, a partner at Cortec. “Tommy and his team have established the company’s leading reputation through their commitment to providing consistently excellent customer service, and a highly effective and repeatable go-to-market strategy. We are excited to partner with Tommy to help him continue to build on the company’s track record of growth and success.”
“Leveraging our significant experience in the residential services space, including our investments in Window Nation, Groundworks, Goettl and Four Seasons, we quickly recognized A1’s growth potential and position as the acquirer of choice for independent garage door operators looking to grow their businesses,” said Will Keesler, a managing director at Cortec. “We are excited to continue scaling the business, both organically and through acquisitions.”
Swander Pace Capital has sold Backerhaus Veit, a maker of frozen and par-baked bread products, to PNC Riverarch Capital.
“It has been a pleasure partnering with the Backerhaus Veit team to help the company reach its potential and pave the way for its next chapter of growth,” said Tyler Matlock, a managing director at Swander Pace. “We look forward to watching Backerhaus Veit continue its success.”
Pittsburgh-based 
Liftout Capital, a lower middle market private equity firm, has been launched in Denver by Eric Wolf and Bo Sutton. Both founders were former professionals at Bow River Capital.
“The lower middle market is the most attractive segment within private equity and where we want to invest our capital. Many firms have success and move upmarket – we plan to remain permanently in the lower middle market and provide a profound level of alignment with our portfolio companies,” said Mr. Wolf.
Liftout intends to limit its portfolio to four platform companies at any given time. “As an investment holding company we will employ flexible hold periods and focus our time and resources on a concentrated portfolio to maximize investment outcomes,” said Mr. Sutton.
Blue Wolf Capital Partners has named Natalie Marjancik as the firm’s newest partner.
“I am honored to take on this expanded role and join Blue Wolf’s talented, long-standing group of partners,” said Ms. Marjancik. “Since first becoming acquainted with Blue Wolf nearly a decade ago, I’ve been impressed by the depth and investment discipline of the team, and I look forward to continue building on the firm’s proven track record of investment and operational excellence.”
Belt Power, a distributor and fabricator of belting and other components for lightweight conveyor systems, has acquired Dunham Rubber & Belting. Platte River acquired Belt Power from Shore Hill Capital in August 2022.
Like Belt Power, 
“Platte River welcomes the Dunham team members to the Belt Power organization,” said Mark Brown, a managing director at Platte River. “We are excited about the possibilities ahead and are committed to honoring several decades of history between both Belt Power and Dunham.”
CES Power, a portfolio company of Allied Industrial Partners, has acquired Global Power Systems (GPS), a provider of power generation and temperature control services to the film and television industry.
“The acquisition of GPS immediately increases CES’ presence in Louisiana, Georgia, North Carolina, and New Mexico by adding one of the most well-respected movie-silent generator companies in the South,” said Josh Mosko, the vice president of business development at CES.
Butterfly Equity has agreed to acquire Milk Specialties Global from American Securities.
“We are beyond excited to roll up our sleeves and get to work with the Butterfly team,” said Mr. Lenzmeier. “Partnering with a food-focused firm like Butterfly, we can drive enhanced value creation for all partners. We are really looking forward to what the future holds because Butterfly will enable Milk Specialties to achieve a new level of growth.”
