Smart Start eyes debt financing for acquisition by Apollo Impact

Jefferies is acting as lead arranger on the debt financing being used in connection with the potential acquisition of Smart Start by funds managed by Apollo Impact, sources said. Financial terms of the acquisition were not disclosed. The deal is expected to close by the end of the fourth quarter.

In August 2020, Smart Start obtained a $350 million first-lien term loan in connection with a refinancing effort. The company also in June 2021 completed a $40 million incremental first-lien and $115 million second-lien term loan to fund a dividend to its shareholders.

Smart Start is a global provider of alcohol monitoring programs utilizing ignition interlock devices.