NEWPORT BEACH, Calif.--(BUSINESS WIRE)--ClearLight Partners has sold Consumer Safety Technology, LLC (“CST” or “Intoxalock”) to Welsh, Carson, Anderson & Stowe for an undisclosed amount.
Headquartered in Des Moines, Iowa, Intoxalock provides state-of-the-art ignition interlock devices and accompanying driver monitoring services. Ignition interlock devices are used primarily in DUI drivers’ vehicles to prevent the vehicle from starting when the driver has consumed alcohol. Intoxalock serves a mission of making the roads in the US safer, preventing drivers from driving drunk, and helping people with substance abuse problems get their lives back on track.
ClearLight invested in Intoxalock in 2012 and supported strong growth of the company during its ownership period. “Intoxalock has achieved tremendous success as a result of the talented team at the company. We are thrilled to have worked with the group and believe the company has a promising future ahead of it,” said Josh Mack, a partner at ClearLight.
“ClearLight’s operational expertise and commitment to the business was incredibly helpful in growing and improving Intoxalock,” said Kimberly Williams, CEO of Intoxalock. “Growing a business is never a smooth process – we encountered many challenges along the way and are thankful for ClearLight’s support through the process.”
“We are very proud of the team at Intoxalock, not only for their considerable accomplishments in the business, but also for their commitment to helping make the roads a safer place for everyone,” commented Michael Kaye, Managing Partner of ClearLight. “We wish Kimberly Williams and the Intoxalock team continued great success.”
ClearLight was advised by SunTrust Robinson Humphrey, Inc. and Kirkland & Ellis, LLP.
About ClearLight Partners
ClearLight Partners, LLC is a private equity firm in Southern California that invests in established, profitable middle-market companies across a range of industries. Since inception, ClearLight has raised $900 million in capital across three funds from a single limited partner. ClearLight has extensive operating and financial experience, and a history of successfully partnering with owners and management teams to drive growth and create value.
ClearLight is actively searching for investments for its third fund, ClearLight Partners III which has committed capital of $300 million.
For more information, visit www.clearlightpartners.com.