Safe Fleet Holdings, LLC (“Safe Fleet” or “the Company”), the market-leading provider of safety and productivity solutions for fleet vehicles, announced today that it has entered into a definitive agreement to be acquired by Oak Hill Capital Partners (“Oak Hill”). Under the terms of the agreement, Oak Hill will acquire the Company from its current owner, The Sterling Group (“Sterling”).

“We have tremendous respect for what Safe Fleet has accomplished. The Company has built a unique and growing portfolio of market-leading safety and productivity solutions,” said Brian Cherry, a Partner at Oak Hill. “We are excited to partner with Safe Fleet to support the Company through its next phase of development, as it continues to grow both organically and through strategic acquisitions.”

John Rachwalski, a Partner at Oak Hill, added, “Safe Fleet represents an exceptional opportunity to invest in a leader in specialized, niche markets supported by attractive secular tailwinds. We are delighted to work with the Company’s talented management team to continue to build the Safe Fleet platform.”

“Sterling and a strong management team led by John Knox have transformed the business strategically, operationally, and commercially from two small component suppliers to a leader in safety solutions for fleet vehicles,” said Gary Rosenthal, a Partner at Sterling and Chairman of Safe Fleet’s Board of Directors. “The creation and sale of Safe Fleet, a business that didn’t exist before Sterling’s initial acquisitions, is a case study in how Sterling rapidly implements its improvement strategies to build winning businesses.”

“Sterling and the Safe Fleet team successfully executed our shared vision to create a leading safety solutions company serving an expanding group of fleet customers,” said John Knox, President and Chief Executive Officer of Safe Fleet. “We believe our new partnership with Oak Hill, a firm that shares our culture of collaborative engagement and continuous improvement, will even further accelerate Safe Fleet’s growth trajectory as a highly differentiated safety and productivity solutions platform.”

The transaction is expected to close in the first quarter of 2018 and represents the seventh investment in the Oak Hill Capital Partners IV portfolio.

UBS Investment Bank served as financial advisor to Oak Hill in connection with the transaction. Goldman Sachs Bank USA, UBS Securities LLC, and Morgan Stanley Senior Funding, Inc. have underwritten and will arrange first and second lien financing in connection with the transaction. Morgan Stanley & Co. LLC and Harris Williams & Co. served as financial advisors to Safe Fleet in connection with the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Oak Hill. Willkie Farr & Gallagher LLP is serving as legal counsel to Safe Fleet and Sterling.

About Safe Fleet
Headquartered in Belton, MO, Safe Fleet owns a portfolio of brands that provide safety and productivity solutions to fleet vehicle manufacturers and operators around the world. These brands serve several major markets including: Bus, Rail, RV, Truck & Trailer, Work Truck, Law Enforcement, Emergency, Waste, Industrial, and Military. With over 1,200 employees and 11 manufacturing locations, Safe Fleet targets markets with increasing demand for operator, passenger, and pedestrian safety. For more information about Safe Fleet and its portfolio of brands, please visit www.safefleet.net.

About Oak Hill Capital Partners
Oak Hill is a private equity firm managing funds with more than $10 billion of i

Holmatro, a worldwide leader in innovative and power hydraulic equipment manufacturing, has introduced its newest rescue tool, the new 5160 combi tool. The new multifunctional 5160 provides the highest force, the largest spreading distance, the biggest cutting opening and the lowest weight in its class. The 5160 joins the line-up as the third combi-tool in Holmatro’s 5000 Series.

“The 5160 offers so many advantages, it won’t be long before this product is the new standard in heavy duty, multifunctional rescue equipment,” said Fran Dunigan, Holmatro product manager.

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The 5160’s unique grip-tooth design provides extra bite for cutting while preventing wider materials from being pushed out of the blades. Removable spreading tips finish a cut without crushing material between the tip.  Reflective markings and pins that can’t be fully removed provide extra assurance that parts and tips don’t get easily lost. Additionally, the flat, centralized i-Bolt construction minimizes blade separation and maximizes cutting performance.

“The 5160 is built to perform multiple heavy-duty tasks including cutting, spreading, squeezing and pulling, providing responders with the flexibility they need in challenging rescue situations,” said Dunigan.

The tool’s lightweight design makes the 5160 easier to maneuver while large blades give responders the access they need. The Holmatro 5160 is available in both EVO3 cordless and CORE technology models.

About Holmatro

For half a century, Holmatro has been developing, producing and testing high-pressure hydraulic equipment for industrial, rescue and special tactics applications. Holmatro products are manufactured in the Netherlands and the USA at our state-of-the-art production facilities. Based on the needs of users, our products are known for their high quality and innovative technology. With Holmatro, it’s safer, easier and quicker to save lives. Innovation, quality and service are at the heart of our company philosophy. Thanks to an extensive range of services including maintenance and training, our products last for years. That’s why they are the tools of choice for rescue workers throughout the world. Once you use them, you’ll use them for life. Holmatro sells and services these products through offices in various countries and an extensive dealer network. For more information on Holmatro, go to: www.holmatro.com.