ABRY Partners Secures Majority Stake in SambaSafety
Investment will accelerate company's growth strategy
ALBUQUERQUE, N.M. and DENVER, April 6, 2016 /PRNewswire/ -- Safety Holdings, Inc. dba SambaSafety®, the market leader of cloud-based driver risk management solutions, today announced that it has entered into a definitive agreement with ABRY Partners to complete a majority recapitalization of the company. ABRY is a leading private equity firm based in Boston, Massachusetts.
While the terms of the agreement have not been disclosed, the transaction is expected to close within 30 days and will help accelerate the continued development and sales of the SambaSafety driver risk management platform and its organic and acquisitive growth strategy. SambaSafety will continue to be headquartered in Albuquerque, NM.
SambaSafety's innovative Software as a Service (SaaS) solutions provide driver risk technology and information to employers, insurance, background screeners and fleet management companies. This enables companies with commercial and non-commercial fleets to easily identify and address unsafe driving behavior and take the appropriate actions necessary to maintain the safety of drivers, passengers and the communities in which they live and work. Additionally, SambaSafety solutions provide the insights insurance carriers need to accurately price risk throughout the policy lifecycle.
"ABRY's investment demonstrates the growing importance of driver risk solutions today and strategically positions SambaSafety to be a transformative force in the market," said Richard Crawford, CEO of SambaSafety. "ABRY's strong technology experience aligns with SambaSafety's objectives and enables us to confidently enter our next phase of growth—greatly benefiting our customers, partners and employees. ABRY is a great fit for our company."
"SambaSafety has established a leadership position in cloud-based driver risk management solutions, and the partnership with ABRY will help the Company to accelerate growth and to better serve customers," said John Bingaman, Executive Chairman of SambaSafety. "ABRY will support SambaSafety as it aggressively pursues its mission – Safer Drivers, Safer Communities – and as it continues to create opportunities for advancement for its extraordinary team members in Albuquerque, NM and at its other corporate locations."
"With almost 20 years of operating history and a reputation for innovation, SambaSafety has earned its position as the market leader," said Azra Kanji of ABRY Partners. "We feel the driver risk management market has tremendous potential and hope to capitalize on the SambaSafety's leading position and long track record of growth. We are excited to invest in SambaSafety and look forward to working alongside the company's leadership team."
About SambaSafety
Since 1998, SambaSafety has been the market leader in cloud-based risk management solutions for employers, insurance, background screeners and fleet management companies. Our innovative driver risk platform, anchored by FCRA compliant data, continuously monitors drivers to deliver a comprehensive view of driver behavior and performance to organizations across the nation. SambaSafety is unique in the industry as our solution delivers actionable alerts that improves driver performance, reduces accidents, lowers insurance costs, and limits risks—ultimately improving driver and community safety. For more information, go to www.sambasafety.com.
Press Contact:
Kurt Schmidt
Phone: (505) 359-6835
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SOURCE SambaSafety
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