CHICAGO–(BUSINESS WIRE)–D.A. Davidson & Co. announced today that it served as financial adviser to Kerr Industries Limited (Kerr) on its sale to Safe Fleet Acquisition Corp. (Safe Fleet), a portfolio company of Oak Hill Capital. Headquartered in Oshawa, Ont., Kerr is the premier North American specialty vehicle upfitter and converter of law enforcement and emergency vehicles.
Founded in 1952, Kerr is an industry leader offering comprehensive upfitting solutions to the law enforcement, emergency, specialty commercial, and retail end markets. With its strategically located facilities and key OEM relationships, Kerr is able to serve law enforcement agencies and customers worldwide.
“We are excited to join Safe Fleet. Their support will enhance our ability to further invest in and deliver on the innovation, customer focus, and quality workmanship that Kerr has built our reputation on,” said Steve Somerville, President of Kerr.
Safe Fleet’s acquisition of Kerr will benefit its existing portfolio of safety solutions and extend its network of trained field installers and commercial vehicle service centers. Kerr will provide access to services, solutions, and cross-selling opportunities with new and existing customers in the U.S. and Canada. Kerr will gain from Safe Fleet’s vast portfolio of safety solution products, including its advanced video and digital evidence technology.
“Kerr is a great fit with Safe Fleet’s Law Enforcement portfolio, adding upfitting expertise in this key market. Their deep relationships with some of the largest law enforcement agencies, OEMs, and parts manufacturers, founded on a steadfast focus on the customer experience, have made them the go-to vehicle upfitter for law enforcement,” said John Knox, Chairman and Chief Executive Officer of Safe Fleet.
“It has been a pleasure to work with Brad Baker, his family, and Steve Somerville on this important transaction for Kerr. We are excited about the company’s future as part of Safe Fleet,” said Eric Stetler, Managing Director in D.A. Davidson’s Diversified Industrials Investment Banking Group.
The transaction represents another successful closing by D.A. Davidson’s Diversified Industrials Investment Banking Group. Over the past 12 months, Davidson’s Machinery & Equipment practice has completed six advisory transactions representing more than $1.5 billion in value.
D.A. Davidson’s Investment Banking Division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle-market clients worldwide across four industry verticals: consumer, diversified industrials, financial institutions, and technology. Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 27 states.
Subsidiaries include: D.A. Davidson & Co., a full-service investment firm providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.
For more information, visit dadavidson.com.
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