New investment poised to accelerate growth;
Continued partnership with Stone Point Capital
ATLANTA, July 15,
2024 /PRNewswire/ -- Safe-Guard Products
International, LLC, a leading provider of third-party private label
finance and insurance protection products for the automotive, RV,
marine, and powersports industries, today announced that it has
closed on a majority investment from Hellman & Friedman, one of
the world's largest private equity firms.
"We are thrilled to welcome Hellman
& Friedman as our new majority investor," said
Barkowitz.
The strategic partnership is set to propel Safe-Guard's growth
and solidify its position as the premier provider of finance and
insurance products and solutions in the sector. Stone Point Capital
LLC, a longstanding investor in Safe-Guard, will continue to
partner with the company and participate on Safe-Guard's board.
Safe-Guard's management team will continue to drive the success
of the business for the benefit of its partners, their customers
and other stakeholders. 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," said Barkowitz. "Safe-Guard's commitment to
excellence remains steadfast. 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."
Hellman & Friedman, renowned for its focus on helping
industry leaders reach new heights, fully embraces Safe-Guard's
unique strategy and the strength of its management team. The
investment highlights Hellman & Friedman's commitment to
supporting Safe-Guard in delivering F&I products, dealer
service, customer satisfaction, and technology solutions. Through
this investment, Safe-Guard 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."
Based in Atlanta, Safe-Guard's
industry-defining Protection Products Platform delivers
frictionless service, consistency, and customer-centric solutions
to more than 19 million consumers who are protected under contracts
administered by Safe-Guard.
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.
About Safe-Guard Products International
Founded
in 1992 and based in Atlanta,
Safe-Guard Products International, LLC, is the leading provider of
branded vehicle protection products in the finance and insurance
space to the automotive, RV, marine, and motorcycle/powersports
industries. Through its Protection Products Platform, Safe-Guard
develops the highest-quality programs and matches them with
unparalleled customer service and advanced technology solutions,
which are fostered by superior sales and marketing support. Visit
safe-guardproducts.com for more information.
About Hellman & Friedman
Hellman & Friedman is
a preeminent global private equity firm with a distinctive
investment approach focused on a limited number of large-scale
equity investments in high-quality growth businesses. H&F seeks
to partner with world-class management teams where its deep sector
expertise, long-term orientation, and collaborative partnership
approach enable companies to flourish. H&F targets outstanding
businesses in select sectors, including technology, financial
services, healthcare, consumer services & retail, and
information, content & business services.
Since its founding in 1984, H&F has invested in over 100
companies. The firm is currently investing its tenth fund, with
over $24 billion of committed
capital, and has over $115 billion in
assets under management as of March 31,
2024. Learn more about H&F's defining investment
philosophy and approach to sustainable outcomes at www.hf.com.
About Stone Point Capital
Stone Point is an alternative investment firm
based in Greenwich, CT, with more
than $55 billion of assets under
management. Stone Point targets
investments in companies in the global financial services industry
and related sectors. The firm invests in alternative asset classes,
including private equity through its flagship Trident Funds and
credit through commingled funds and separately managed accounts. In
addition, Stone Point Capital Markets supports our firm, portfolio
companies and other clients by providing dedicated financing
solutions. For more information on Stone Point, please visit:
www.stonepoint.com.
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SOURCE Safe-Guard Products International