Bloomfield Hills, MI – Transportation Resource Partners, LP (“TRP”), a leading private equity firm investing in the Transportation Industry, announced that it has partnered with Chairman David Boucher and CEO Anthony Douglas in the recapitalization of Smith System Driver Improvement Institute, Inc. (“Smith”).
Founded by Harold Smith in 1952, Smith was the nation’s first fleet driver safety training organization with on-road, hands-on safety education techniques for experienced drivers. Headquartered in Arlington, Texas, the Company uses a proprietary product known as the “Five Keys”, coupled with on-road instruction, to help customers reduce accident frequency, severity and overall cost. In addition to live training, Smith also delivers its product in the form of online courses, as well as through various training aids and videos. With the capability to train drivers in 70+ countries and 30+ languages, Smith has solidified its reputation as the global leader in accident avoidance driver training. In the past decade, the Company has provided services to more than half of the current Fortune 500® fleets and is the only company in the industry that guarantees the quality of their training.
Mr. Douglas, said, “We are pleased to be associated with Transportation Resource Partners and the outstanding companies in its portfolio. TRP’s investment partners and relationships in the Transportation Industry will play an important role in Smith System’s future growth. Our partnership comes at an important time for fleets considering continued bottom-line pressure due to accident/claims costs and ever increasing fuel prices. Use of the Smith System reduces fleet expenses in both cases.”
James Hislop, Managing Director of TRP said, “We are very excited to begin our partnership with the Smith System management team. The Company has earned a first-class reputation in the marketplace by executing successfully for its vast worldwide client base. As partners, we plan on supporting the management team as they pursue the next phase of their growth.” Smith’s senior management team will continue to manage and operate all aspects of the business.
Transportation Resource Partners, LP is a $265 million private equity fund that makes investments in growth-oriented companies operating in the Transportation and Transportation Services Industries. TRP’s philosophy is to identify attractive investment situations where it can work in partnership with management to support growth. TRP’s principals have extensive operating and investing experience in the Transportation Industry. TRP, along with its predecessor fund, Penske Capital Partners, has been responsible for managing over $600 million of equity capital. For more information on TRP please visit www.trpfund.com and for more information on Smith System please visit www.smith-system.com.