Turning Rock Partners, a New York-based private investment firm, has provided $30 million of expansion capital to support the continued growth of 160 Driving Academy, a commercial driving training school in the United States.
“160 Driving Academy has a strong history and founder ownership which is committed to building career skills for students,” John Hamilton, chief operating officer of Turning Rock Partners, said. “The company is also active in promoting employment pathways in its communities. Steve and his team of leaders are focused on quality programming and investments in its schools, teachers and student training offerings. As a growing business services operator, the value proposition 160 Driving Academy provides for its corporate customers is substantial as it identifies, trains and provides consistent driving talent with a focus on safety.”
“The investment from Turning Rock provides critical growth capital as we expand our tech-enabled driving schools across the country,” Steve Gold, CEO of 160 Driving Academy, said. “Proceeds from this debt financing will enable the 160 Driving Academy team to increase its school footprint to 200 schools by 2026 as well as continue to develop innovative technology solutions for the American truck driver through the Truckers Network digital application.”
Turning Rock was advised on the transaction by Miles & Stockbridge for legal, Lockton Companies on insurance and Silver Regulatory Associates provided additional services.
