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Tuesday, February 23, 2016

GTCR Acquires Video Telematics Provider Lytx

GTCR, a leading private equity firm, has acquired Lytx, Inc. (formerly known as DriveCam), a leading provider of video telematics and a pioneer of video-based driver safety industry, for $500 million.The deal will fuel Lytx's continued growth in safety, video telematics and data services.

Mark Anderson, Managing Director at GTCR, said in a statement: 
"The acquisition of Lytx is a great example of leveraging GTCR's expertise in investing in companies with hard-to-replicate data and highly valuable workflow applications.  This transaction also highlights GTCR's continued enthusiasm for investing in market-leading companies with substantial whitespace opportunities."

Image credit: Lytx Inc
Headquartered in San Diego, California, Lytx is a leading provider of video telematics that help commercial and public sector fleets improve driver behavior and reduce collisions and collision-related expenses. The company serves more than 1,400 commercial and government fleet customers worldwide, including some of the largest commercial fleets in the world.  

Founded in 1980 and based in Chicago, Illinois, GTCR LLC is a private equity firm focused on leveraged buyout, leveraged recapitalizatyion, growth capital and rollup transactions. GTCR mainly focuses in high-growth companies in the Financial Services & Technology, Healthcare, Technology, Media & Telecommunications and Growth Business Services industries. The Chicago-based equity firm has  pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since 1980, the company has invested more than $12 billion in over 200 companies.  

Evercore served as financial advisor to GTCR, while Kirkland & Ellis LLP provided legal counsel and PricewaterhouseCoopers served as accounting advisor.  Rothschild served as financial advisor to Lytx, while Ropes & Gray LLP provided legal counsel.

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