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Stone Point invests in Safe-Guard

Stone Point Capital has made an investment in Atlanta-based Safe-Guard Products International LLC, a provider of third-party private label protection products for the automotive, RV, marine and powersports industries.

Stone Point Capital has made an investment in Atlanta-based Safe-Guard Products International LLC, a provider of third-party private label protection products for the automotive, RV, marine and powersports industries. No financial terms were disclosed. Goldman Sachs, which first invested in Safe-Guard in 2012, will retain its minority stake.

PRESS RELEASE

ATLANTA, Jan. 27, 2020 /PRNewswire/ — Safe-Guard Products International, LLC, the leading provider of third-party private label protection products for the automotive, RV, marine and powersports industries, today announced an investment in the company by funds managed by Stone Point Capital LLC. Affiliates of the Goldman Sachs Group, Inc., which first invested in Safe-Guard in 2012, will continue to own a minority interest in the company.

Based in Atlanta, Ga., Safe-Guard manages protection product programs for over 50 strategic partners across the U.S. and Canada, offering a full suite of protection products in the automotive, powersport, RV, and marine industries. More than 13 million consumers are protected under contracts by Safe-Guard.

“Safe-Guard is in the unique position to welcome Stone Point Capital as a new investor with deep industry experience, while continuing our successful relationship with Goldman Sachs through its renewed investment,” said Randy Barkowitz, Safe-Guard’s Chief Executive Officer. “With continued development of people, product, technology, and our service infrastructure, we remain committed to delivering innovative solutions and value-added customer support to our strategic partners and customers.”

Stone Point Capital owns and invests in leading companies within the financial services and related industries. “Since its inception, Safe-Guard has placed a premium on service and innovation, which has led to the company’s remarkable growth,” said Chuck Davis, Chief Executive Officer of Stone Point Capital. “We are pleased to invest in the company as it commits to further enhance the technology, infrastructure, and service that has made Safe-Guard the market leader. We look forward to a strong partnership with the Safe-Guard team and Goldman Sachs.”

Goldman Sachs Merchant Banking Division acquired Safe-Guard in 2012 and will retain a significant stake in the company. “We are extremely proud of the growth that Safe-Guard and its management team have achieved during our ownership period, which has solidified the company’s position as the category leader in its space in North America,” said Sumit Rajpal, Co-Head of Goldman Sachs Merchant Banking Division. “Safe-Guard is well-positioned to continue its stellar growth under its talented and experienced management team led by Randy Barkowitz, and we are excited to partner with Stone Point Capital in continuing our journey with the company.”

Goldman Sachs and Jefferies acted as joint financial advisors, and Davis, Polk & Wardwell LLP acted as legal counsel to Safe-Guard. Debevoise & Plimpton LLP and White & Case LLP acted as legal counsel to Stone Point Capital.

About Safe-Guard Products International, LLC
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. The company develops, markets and administers programs on behalf of clients, backed by industry-leading sales and marketing, advanced technology solutions, and comprehensive customer service. Safe-Guard is a proud partner to Original Equipment Manufacturers (OEMs), top retailers, and independent agents across the United States and Canada.

About Stone Point Capital LLC
Stone Point Capital LLC is a financial services-focused private equity firm based in Greenwich, CT. The firm has raised and managed eight private equity funds – the Trident Funds – with aggregate committed capital of more than $25 billion. Stone Point targets investments in companies in the global financial services industry and related sectors. For more information, please visit www.stonepoint.com.

About Goldman Sachs Merchant Banking Division
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.