Inside The Deal is a series from the WCAS Investor team providing insight into our recent investments.
November 10, 2022 - With the completion of the sale of Intoxalock earlier this year, we look back at how WCAS partnered with management to increase earnings fourfold over the last five years.
Ignition interlock devices (IIDs) are a lifesaving technology, keeping our roads safe while allowing customers who have been convicted of a DUI to maintain the ability to drive to work and carry on with their lives safely. Intoxalock is the market leader in IIDs and has been delivering for state IID programs and their constituents for over 30 years.
In 2017, WCAS became Intoxalock’s majority owner. We have historically been an active investor in transportation safety technology and based on that experience believed strongly in management's ability to deliver on its growth strategy. Over this period, WCAS closely supported management’s efforts to grow the company and fulfill their commitment to helping people live and drive responsibly through:
During our ownership, we made important additions to the management team to supports its long-term growth. We also worked closely with management to improve the customer experience, accelerating the installation process and offering more flexible payment arrangements. Finally, we completed several important acquisitions that extended the company’s product portfolio and geographic reach.
These enhancements helped drive a tripling of the customer base over the last five years.
We are very optimistic about Intoxalock and the future of the IID industry, and we are very proud of the growth and progress made over the last 5 years and the nearly 1 million customers served during our ownership.
Looking for insight on more WCAS deals? Come back regularly to the Inside The Deal blog to learn about our most recent deals, and historic insight on some of our top deals from the last decade. customer base over the last five years.
Head of Technology Group & General Partner at WCAS