Safe-Guard Products International will expand resources with its recent investment partner. Hellman & Friedman closed on a majority investment with the F&I provider.
In conjunction with the investment, Safe-Guard CEO Randy Barkowitz will step down from his CEO role and become the company’s board of director’s executive chairman. David Pryor will maintain his role as president and add the CEO responsibilities.
Hellman & Friedman said its company “fully embraces” Safe-Guard’s business strategy and its management team. The private-equity firm’s investment will provide additional resources for Safe Guard to invest in people, processes and technology.
Hellman & Friedman partner Hunter Philbrick said, “The business has built an impressive reputation for its high-quality products and service, and we are excited to partner with the talented management team and provide additional firepower to support the company’s strategic priorities.”Long-standing Safe-Guard investor Stone Point Capital LLC will continue to partner with the company and participate on its board.
Barkowitz said, “With Hellman & Friedman’s backing and Stone Point’s continued support, we are positioned to deliver even more innovative solutions, superior service and unmatched value to our partners and their customers.”
Through the investment, Safe-Guard will gain resources to invest in people, processes and technology.
Goldman Sachs & Co. LLC and SPC Capital Markets LLC acted as financial advisors to Safe-Guard and Debevoise & Plimpton LLP served as legal counsel to the company.
Jefferies LLC was the lead financial advisor to Hellman & Friedman, with Waller Helms Advisors also providing financial advice and Kirkland & Ellis acting as legal counsel.
