ST. LOUIS, Oct. 28, 2014 (GLOBE NEWSWIRE) -- ButcherJoseph & Co. ("ButcherJoseph") served as the exclusive financial advisor to Nation Safe Drivers ("NSD" or "Company") in its sale to the NSD Holdings, Inc. Employee Stock Ownership Plan ("ESOP"). NSD is one of the largest suppliers of auto-related supplemental products serving 15 million customers annually. The transaction officially closed on September 30, 2014.
Andrew Smith, NSD President and CEO, expressed, "We explored several exit strategies, and we were by far the most intrigued with Employee Stock Ownership Plans. Our company has tremendous potential, and we wanted to share this future success with the dedicated employees who will continue growing NSD."
Smith further emphasized, "After researching ESOPs on our own and interviewing several firms, we realized that we needed the experience and sophistication of the ButcherJoseph team to lead us to a successful closing, given the regulatory, structuring, and financing complexities of our business."
ButcherJoseph founding partner, Keith Butcher, stated, "NSD is an amazing company and this transaction creates a special opportunity for their employees. Successfully closing a transaction of this magnitude is truly a team effort. The company put together a best-in-class team of professionals and we feel privileged to have been chosen to lead that team to a successful closing."
About Nation Safe Drivers
Nation Safe Drivers ("NSD"), headquartered in Boca Raton, FL, has been a leader in providing innovative products and services to the automotive and insurance industries since 1962. Its marquis product, 24-hour Dispatched Roadside Assistance, has been heralded as having one of the most technologically advanced and intuitive software platforms in the world. In addition to Roadside Assistance, NSD offers dozens of ancillary "niche" products for all types of industries.
About ButcherJoseph & Co.
ButcherJoseph & Co. ("ButcherJoseph") is an investment bank headquartered in St Louis with coverage in Chicago, Washington, DC, and Charlotte, NC. ButcherJoseph provides investment banking advisory services to middle market companies. With more than $5 billion in successfully completed Employee Stock Ownership Plan ("ESOP") transactions, ButcherJoseph & Co. is known as a leader in the ESOP field.