Oak Hill Capital announced that it has completed the sale of Safe Fleet Holdings, LLC to Clarience Technologies, LLC. The combination of Safe Fleet, a leading provider of safety and productivity solutions for fleet vehicles, and Clarience, a global provider of visibility and safety technology solutions for transportation markets, provides Safe Fleet the global platform and resources to continue expanding on its mission: Saving lives. Preventing Injuries. Making fleets more productive.
“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,” stated Chairman and CEO of Safe Fleet John Knox. “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.”
“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 have developed a repeatable investment process for identifying high-quality companies benefitting from secular macro tailwinds and seek to implement a tailored value creation plan to execute against our thesis. We want to thank the Safe Fleet team for the successful partnership.”