SC&H Capital, a leading investment banking and advisory firm, is pleased to announce that its client, 160 Driving Academy (the “Company”), the largest commercial driver’s license (“CDL”) training operation in the United States, has completed the sale of substantially all its assets to a group of incumbent institutional investors.
Founded in 2012 and headquartered in Chicago, 160 Driving Academy is the largest commercial driver’s license training operation in the United States, delivering classroom and behind-the-wheel instruction through a national network of campuses and training yards. The Company serves self-pay students alongside students sponsored through government workforce programs and employer tuition benefits. Under a new management team, the Company is transforming into a leaner, more digital enterprise while broadening its focus from CDL instruction toward general adult vocational training and education.
Following a period of revenue pressure and balance sheet strain that resulted in a material default under the credit agreement, the Company’s senior secured lenders — holding nearly $160 million of funded debt — advised that they intended to pursue an Article 9 foreclosure.
The Company’s Chief Restructuring Advisor, Novo Advisors, and the broader stakeholder group agreed it was prudent to engage a specialist investment bank to run an expedited sale process to gauge the market’s interest in acquiring the business.
SC&H Capital was retained at the end of April 2026 as exclusive investment banker to the Company and moved quickly to market. On a compressed timeline, SC&H canvassed strategic and financial parties across the vocational training, workforce development, and transportation services sectors, giving the stakeholder group the transparency it required before the lenders determined their path forward.
The transaction closed in July 2026, and the business continues to operate with its existing management team.
SC&H Capital is an investment banking and advisory firm specializing in mergers and acquisitions (M&A), employee stock ownership plans (ESOP), distressed M&A, capital raises, financial restructurings, and business valuations for middle-market companies nationally. SC&H Capital delivers services across numerous industries including technology, healthcare, manufacturing, consumer, business and professional services, and government contracting. We are recognized for delivering relevant market insights and tailored solutions to help owners achieve their true strategic value. To learn more, visit www.schcapital.com.
