MidOcean Partners (MidOcean), a New York-based alternative asset manager specialising in middle-market PE and alternative credit investments, has acquired Smith System Driver Improvement Institute (Smith System), a B2B workplace safety training platform from Levine Leichtman Capital Partners (LLCP).
Financial terms of the transaction have not been disclosed.
Founded in 1952, Smith System established the first professional fleet driver training company in the United States. Today, the company also offers comprehensive fleet management services and a rapidly growing, diversified suite of workplace safety training solutions.
MidOcean says it plans to leverage its expertise to support Smith System’s continued growth through both product enhancements and extensions as well as via organic and inorganic investments.
At the close of the transaction, current Smith System board member Derek Dunaway will become the Company’s Executive Chairman. Prior to joining Smith System, Dunaway was the CEO of TPC Training, a provider of industrial skills and workplace safety training, performance management, and environmental, health & safety compliance software solutions.
