Hellman & Friedman becomes majority investor in Safe-Guard
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Safe-Guard Products International announced this week that it has closed on a majority investment from Hellman & Friedman, one of the world’s largest private equity firms.
Specific financial details were not included in a news release from the provider of third-party private label F&I protection products for the automotive, RV, marine and powersports industries.
But in connection with the transaction, Randy Barkowitz is assuming a board-level leadership role as full-time executive chairman, while David Pryor is continuing in his role as president and assuming the responsibility of chief executive officer of Safe-Guard.
“We are thrilled to welcome Hellman & Friedman as our new majority investor,” Barkowitz said in the news release. “Safe-Guard’s commitment to excellence remains steadfast.”
The company also mentioned Stone Point Capital, a longstanding investor in Safe-Guard, will continue to partner with the company and participate on Safe-Guard’s board.
“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,” Barkowitz said.
Through this investment, Safe-Guard said it will gain additional resources to invest in its people, processes and technology.
“Safe-Guard is a differentiated provider of private label protection products, offering value to dealers, strategic partners and consumers,” said Hunter Philbrick, partner at Hellman & Friedman. “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.
“We see several significant growth opportunities and look forward to working together to realize the immense potential ahead,” Philbrick added.
Goldman Sachs & Co. and SPC Capital Markets LLC as financial advisors to Safe-Guard and Debevoise & Plimpton served as legal counsel to the company.
Jefferies was the lead financial advisor to Hellman & Friedman, with Waller Helms Advisors also providing financial advice and Kirkland & Ellis acting as legal counsel.