M&A Deal Summary

MidOcean Partners Acquires Smith System Driver Improvement Institute

On November 7, 2023, private equity firm MidOcean Partners acquired education company Smith System Driver Improvement Institute from Levine Leichtman Capital Partners

Acquisition Highlights
  • This is MidOcean Partners’ 3rd transaction in the Education sector.
  • This is MidOcean Partners’ 51st transaction in the United States.
  • This is MidOcean Partners’ 3rd transaction in Texas.

M&A Deal Summary

Date 2023-11-07
Target Smith System Driver Improvement Institute
Sector Education
Buyer(s) MidOcean Partners
Sellers(s) Levine Leichtman Capital Partners
Deal Type Secondary Buyout

Target

Smith System Driver Improvement Institute

Arlington, Texas, United States
website
Smith System Driver Improvement Institute is a provider of accident avoidance driver training for vehicle fleets. Smith System Driver Improvement Institute was formed in 1952 and is based in Arlington, Texas.

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Buyer(S) 1

Buyer

MidOcean Partners

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

MidOcean Partners is a private equity firm focused on acquiring controlling interests in middle-market companies throughout North America. The Firm has a preference for consumer and business services sectors including automotive, food/beverage, retail, consumer products, information services, infrastructure services, training and more. MidOcean seeks opportunities valued between $150 and $750 million where it can commit $75 to $300 million. In addition to investing equity, MidOcean also looks to provide flexible credit solutions as well. MidOcean Partners was formed in 2003 and is based in New York, New York.


DEAL STATS #
Overall 56 of 57
Sector (Education) 3 of 3
Type (Secondary Buyout) 23 of 24
State (Texas) 3 of 3
Country (United States) 51 of 52
Year (2023) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-07 QualiTech

Chaska, Minnesota, United States

QualiTech is a family-owned global manufacturer of plant nutrition, animal nutrition and food ingredient products and services. QualiTech was founded in 1967 and is based in Chaska, Minnesota.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Re-Sourcing

Valhalla, New York, United States

Re-Sourcing is a provider of strategic staffing, consulting, and direct hire solutions, focusing on Compliance, Legal, Information Technology, Finance & Accounting, and HR positions. Re-Sourcing was founded in 2003 and is based in Valhalla, New York.

Buy -

Seller(S) 1

SELLER

Levine Leichtman Capital Partners

Beverly Hills, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 1984
PE ASSETS 12.9B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Levine Leichtman Capital Partners (LLCP) is a West Coast US based private investment firm that targets mezzanine and other structured equity investments in middle-market companies. The Firm has several funds, each with different strategies. LLCP's larger fund targets subordinated debt, preferred equity, and/or common equity investments in companies with $100 to $750 million of revenue. The Firm's smaller fund invests $5 to $15 million in emerging companies with less than $25 million in revenue. LLCP also invests in financially distressed businesses. LLCP was formed in 1984 and has offices in Beverly Hills, California; Chicago, Illinois; Dallas, Texas; New York City; and London.


DEAL STATS #
Overall 53 of 55
Sector (Education) 2 of 3
Type (Secondary Buyout) 28 of 29
State (Texas) 9 of 9
Country (United States) 49 of 51
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 SEV Laser

Glendale, California, United States

SEV Laser is a manager and operator of med spas that provide laser hair removal, injectables, body contouring, and other medical aesthetic services. SEV Laser was formed in 2010 and is headquartered in Glendale, 91202, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-20 Therapeutic Research Center

Stockton, California, United States

Therapeutic Research Center is a provider of digital medication learning that updates, informs, and educates healthcare providers across the continuum of care. Therapeutic Research Center was founded in 1985 and is based in Stockton, California.

Sell -