Abry’s SambaSafety soon to hit the auction block

Houlihan Lokey has been engaged to advise the Denver-based provider of driver risk management and insurance software.

Abry Partners is preparing for a sale of SambaSafety, a provider of driver risk management and insurance software, sources familiar with the situation told PE Hub.

The firm has hired Houlihan Lokey for financial advice on the sale process, which has yet to kick off, some of the people said.

SambaSafety generates around $30 million of EBITDA, the sources said.

SambaSafety, based in Denver, Colorado, is a provider of cloud-based driver risk management software for organizations with commercial and non-commercial drivers in North America. The company helps employers identify high-risk drivers and enforce safety policies; insurers to make informed decisions; and background screeners to perform accurate, efficient pre-hire checks.

SambaSafety provides two core products: Qorta, a proprietary SaaS driver monitoring platform with near real-time driver violation alerts; and Volta, an insurance underwriting platform that reduces administrative burden for brokers, carriers, and agents.

The company in March acquired Instructional Technologies, a provider of online driver training and technology, and shortly after introduced its newest product, Qorta University. Qorta allows companies to assign, deliver and document the completion of online training in response to a driver’s behavior, improving safety outcomes and creating a defense record.

Abry Partners’ investment in SambaSafety dates back about five years, having invested in the technology company in April 2016.

Under the Boston-based private equity firm’s backing, SambaSafety recruited a new leadership team while growing through multiple add-on acquisitions – most recently, Instructional Technologies.

Allison Guidette in January 2018 was named CEO of SambaSafety. She was previously CEO of G2 Web Services, a global provider of merchant risk intelligence solutions. In June 2019, the company welcomed Thomas R. Patterson as its new CFO.

Prior to Abry’s investment, SambaSafety collected $16.4 million in venture funding, led by Main Street Capital.

Abry Partners invests in profitable companies in media, communications, business and information services in North America and Europe. Depending on the type of investment, the firm targets investments ranging from $20 million to $200 million in size.

The firm has four fund strategies: majority investment-focused Flagship; lower-mid-market focused Heritage; proffered stock minority oriented Senior Equity; and debt securities focused Senior Debt.

Abry Partners declined to comment. SambaSafety and Houlihan Lokey did not respond to PE Hubs requests for comment.