February 6, 2018
Willkie advised Safe Fleet Holdings LLC, a portfolio company of long-term private equity sponsor client The Sterling Group, on the transaction.
Willkie client Safe Fleet Holdings LLC, a portfolio company of long-term private equity sponsor client The Sterling Group, was sold to Oak Hill Capital Partners. The transaction closed on February 1.
Sterling and its management team transformed the Safe Fleet business strategically, operationally and commercially from two small component suppliers to a leader in safety solutions for fleet vehicles with attractive growth and margin profiles and significant scale. The company completed ten strategic acquisitions under Sterling's ownership, before its sale to Oak Hill Capital Partners. Willkie advised Safe Feet on numerous recent acquisitions, including MobileView, COBAN Technologies, Rear View Safety and FleetMind Solutions, among others.
Founded in 1982, The Sterling Group has acquired 50 platform companies totaling over $10 billion in value. The Sterling Group targets controlling interests in basic manufacturing, distribution and industrial services companies.
Headquartered in Belton, MO, Safe Fleet owns a portfolio of brands that provide safety solutions to fleet vehicle manufacturers and operators around the world. These brands serve several major markets including: Bus, Rail and RV, Truck and Trailer, Work Truck, Emergency Waste and Industrial and Military.
The Willkie team included partners Bruce Herzog, Kfir Abutbul, Scott Miller, Hillel Jacobson, Mark Holdsworth, Robert Rizzo, Spencer Simon and David Tarr; and associates Victoria Rosales, Annise Maguire, Kathryn Crowe, Isabel Araujo, Ryan Hartnett, Brandon Coyle and Jessica McGrath.
