Safe Fleet Holdings, LLC, a provider of safety and productivity solutions for fleet vehicles, announced that it has entered into a definitive agreement to be acquired by Oak Hill Capital Partners. Under the terms of the agreement, Oak Hill will acquire the Company from its current owner, The Sterling Group.

“We have tremendous respect for what Safe Fleet has accomplished. The Company has built a unique and growing portfolio of market-leading safety and productivity solutions,” said Brian Cherry, a Partner at Oak Hill.

The transaction is expected to close in the first quarter of 2018 and represents the seventh investment in the Oak Hill Capital Partners IV portfolio. UBS Investment Bank served as financial advisor to Oak Hill in connection with the transaction. Goldman Sachs Bank USA, UBS Securities LLC, and Morgan Stanley Senior Funding, Inc. have underwritten and will arrange first and second lien financing in connection with the transaction. Morgan Stanley & Co. LLC and Harris Williams & Co. served as financial advisors to Safe Fleet in connection with the transaction. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Oak Hill. Willkie Farr & Gallagher LLP is serving as legal counsel to Safe Fleet and Sterling.