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SEARCHOak Hill Capital sold Safe Fleet to the global visibility and safety technology provider after six years.
Clarience Technologies acquired Safe Fleet from Oak Hill Capital, but details of the deal weren't disclosed.
Source: Canva
Clarience Technologies, a global provider of visibility and safety technology solutions for transportation markets, has acquired Safe Fleet, a provider of safety and productivity solutions for fleet vehicles (including school buses). The acquisition helps Clarience expand significantly into the school transportation market.
Clarience completed the purchase from Oak Hill Capital this week, according to a news release.
Said Brian Kupchella, CEO of Clarience: "Clarience Technologies and Safe Fleet share a common mission of making transportation safer and smarter through technology. The acquisition of Safe Fleet provides our company with critical technologies, deep vocational segment expertise and a portfolio of powerful and complementary safety products that support our vision to provide comprehensive solutions to a broader set of transportation customers around the world.”
"We want to thank John Knox and the rest of the Safe Fleet team for the successful partnership over the last six years," said John Rachwalski, partner at Oak Hill. "We invested in Safe Fleet with the strategic vision to leverage the company's niche, market-leading brands and entrenched customer base to create a differentiated, integrated platform of safety, productivity, and connectivity solutions for fleet vehicles of all types. Both organically and through strategic acquisitions, we executed against that vision and believe we created a strategically valuable platform on exit."
"Our partnership with Oak Hill resulted in the pivotal transformation of Safe Fleet into a market-leading platform of electro-mechanical products, digital/technology-enabled solutions and installation, repair and upfitting services," said John Knox, chairman and CEO of Safe Fleet. "I want to thank the entire Safe Fleet team for the incredible achievement over the last six years. We look forward to joining the Clarience team of companies."
Safe Fleet's integrated safety platform serves fleets school transportation, transit, fire and emergency, law enforcement, work truck, commercial transportation, logistics, construction, agriculture, waste and recycling, industrial and military. Safe Fleet customers are supported by its network of service centers and affiliates across North America.
The acquisition of Safe Fleet increases Clarience Technologies’ total workforce to more than 4,000 employees at nearly 50 locations worldwide. Safe Fleet joins the Clarience Technologies team of companies, which includes:
Truck-Lite.
ECCO.
Code 3.
Pressure Systems International.
DAVCO.
Road Ready.
Fleetilla.
LED Autolamps.
Rigid Industries.
Lumitec.
"The sale of Safe Fleet to a strategic buyer exemplifies Oak Hill's highly targeted theme-based investment strategy," said Brian Cherry, a managing partner at Oak Hill. "We want to thank the Safe Fleet team for the successful partnership."
Terms of the deal were not disclosed.
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