Levine Leichtman Capital Partners has purchased Smith System Driver Improvement Institute Inc. from Transportation Resource Partners.
Arlington, Texas-based Smith provides collision avoidance training for fleet vehicle drivers. The company trains driver through on-road, classroom and e-learning driver programs. Terms of the deal were not disclosed.
Los Angeles private equity firm Levine Leichtman made the investment from Levine Leichman Capital Partners Fund V LP, which closed in March with $1.65 billion in commitments. In November, the firm bought Genova Diagnostics Inc., a clinical testing laboratory.
Transportation Resource Partners is a private equity fund affiliated with Penske Corp. (NYSE: PAG).
Baird advised Smith on the deal.
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