CIP Capital

Scott Marden Joins Technology Panel at 2013 MIT Sloan P/E Symposium

CIP Capital Managing Partner Scott Marden to Join Technology Panel Discussion at Upcoming 10th Annual MIT Sloan Private Equity Symposium

April 5, 2013







Scott Marden will join moderator Jeffery Bistrong of Harris Williams as well as fellow panelists Todd MacLean of Bain Capital Ventures, Mark Young of MHT Partners, and Paul Quinlan of Blackstone for a Technology-focused panel discussion at 10AM at MIT's Media Lab on Friday April 5, 2013.

Leading Online Driver Training Provider I DRIVE SAFELY Adds Greg Hallinan to Executive Team

Leading Online Driver Training Provider I DRIVE SAFELY Adds Greg Hallinan to Executive Team
Veteran Mobile Executive Joins I DRIVE SAFELY as Chief Marketing Officer


CARLSBAD, Calif., May 14, 2013 -- I DRIVE SAFELY, the nation's leading provider of driver education and training, announced today the addition of Greg Hallinan to the newly created role of Chief Marketing Officer, as I DRIVE SAFELY looks to expand its industry leading training programs into new platforms and markets.

Hallinan joins I DRIVE SAFELY from Verve Mobile, which he co-founded in 2005 and served as CMO, helping the company grow from a young startup to the leading location-based advertising platform in mobile.  Prior to Verve Mobile, Hallinan served in various executive and marketing positions with Intel,, and NTN Buzztime.  He is currently a semifinalist for the 2013 Ernst & Young Entrepreneur of the Year award.

"I DRIVE SAFELY has already assembled an amazing team and built an industry leading company in the rapidly growing on-line education sector," says Greg Hallinan, Chief Marketing Officer.  "I am excited to help them build on that success, with the ultimate goal of reaching every driver with programs that improve driver safety, reduce fatalities, and enhance road safety for both private and commercial drivers. "

The company also announced the recent hiring of Dustin Bauman as Director of E-Learning.  Prior to joining I DRIVE SAFELY, Bauman held a similar position at global medical device company ResMed, developing localized online training programs for more than 30 products distributed around the world. 

"We are a mission driven organization focused on saving lives through improved driving safety," states George Montgomery , Chief Executive Officer of I DRIVE SAFELY.  "Adding the caliber of executive experience with the additions of both Greg Hallinan and Dustin Baumanensures we are positioned for our future growth, and stay on the leading edge of training systems, driver safety curriculum, and course delivery."



Scott Marden to Speak at 2013 Buyouts East Conference in Boston

Join Scott Marden, Justin Lipton, and Bobby Kelly at the 2013 Buyouts East PartnerConnect Event in Boston

April 3-5

CIP Capital's Managing Partner Scott Marden is a featured speaker on the April 4th panel "Quick Case Studies Part II: 3 More Great PE Deals & Why They Worked" at this year's Buyouts East Conference. Scott's presentation will focus on CIP's method for sourcing deals, conducting diligence, and partnering with management to drive value creation in portfolio companies. Check out Thursday's agenda and connect with Scott in Boston.

CIP Capital is a Gold Sponsor of the 2013 Buyouts East Conference.


CARLSBAD, CA – January 30, 2013 - I DRIVE SAFELY, the leading provider of online driver training and first time driver education, announced that George Montgomery has joined the company and will serve as its new Chief Executive Officer (CEO). 

The announcement comes during a period of expansion of the company’s management team following the investment by CIP Capital in the middle of 2012 to provide growth capital for the company. The Chief Financial Officer (CFO) George Harbison was added to the team in July 2012 and the company is currently searching for a Chief Marketing Officer (CMO).

Montgomery previously served as the CEO of the Taylor Made Golf Company, where he helped grow the company from $70 Million to $400 Million in revenue between 1992 and 1999. He also served as CEO of US Education Corporation between 2002 and 2011, where he helped grow revenue from $12 Million to $190 Million.

The veteran CEO said that he became attracted to the company because of the passion of I DRIVE SAFELY’S founding partners Rick Hernandez and Gari Garimella, as well as its mission to improve driver education and safety.

“I met Rick and Gari a little over a year ago, while the company was in the process of looking for outside investors.  I was immediately attracted to them because of their knowledge and passion about the sector.  It’s exciting to be able to work with high quality people and make a difference in the world. We can help save people’s lives,” he said.

Montgomery believes that the customer-focused strategy that helped him grow businesses in the past will be successful at I DRIVE SAFELY. “By helping your customers, you follow behind them,” he asserted.  “The philosophy is: quality leads to growth. That is the same philosophy we will apply here.”

Founding partners Gari Garimella and Rick Hernandez believe that Montgomery will be a major asset in helping the company grow.

 “We welcome George to the I DRIVE SAFELY team, and believe this partnership adds significant value and depth to the company’s executive team,” said Hernandez. “We’re very excited to have someone of George’s caliber in the organization, and I look forward to his contributions and leadership.”

Garimella stated, “George is a very successful CEO, and we are glad to have him lead I DRIVE SAFELY to the next level of success.  I DRIVE SAFELY has experienced significant growth in the last five years, and George’s experience with building and scaling high-growth companies will be invaluable to the team."



 I DRIVE SAFELY is the industry-leading provider of online driver training. The company’s products include driver improvement products for people who have received a traffic ticket or want to reduce their auto insurance premiums, driver’s education for teens who want to earn their driver’s permit or license, and Mature driving programs for drivers 55 and older.  I DRIVE SAFELY was founded in 1998 in Vista, CA and serves drivers across the United States. 


CIP Capital Closes Investment in CoAdvantage

CIP Capital invests in leading provider of outsourced human resources solutions 




January 7, 2013 – Compass Investment Partners Fund, L.P. (“CIP Capital”) has completed the acquisition of CoAdvantage Corporation (“CoAdvantage” or the “Company”).  CoAdvantage is a leading Professional Employer Organization (PEO) that offers small and mid-sized businesses a comprehensive package of outsourced human resources solutions enabling them to reduce their administrative burden, ensure compliance with employer regulations, and gain access to affordable employee benefits.  The Company integrates payroll and tax processing, employee benefit plan administration, risk management, government compliance and other human resources services into a single vendor solution that is extremely efficient and effective.  CoAdvantage is based in Orlando, FL and maintains additional offices across Florida and Texas.  

“The CoAdvantage team is extremely excited to partner with CIP Capital for the next stage of the Company’s growth,” said Mike Maseda, CEO of CoAdvantage.  “We view CIP Capital as a value-added partner who will provide strategic guidance, resources and capital to accelerate our growth into new markets in addition to increasing our investment in new value-added services and technology for our client base.  2013 will be an exciting year for our clients and employees.” The Company also announced plans to enter the Palm Beach, Austin and San Antonio markets in early 2013.  

“CoAdvantage’s business model represents a core focus of CIP Capital’s targeted middle-market investment strategy in the Business Information and Outsourced Services market,” said Scott Marden, Managing Partner of CIP Capital. “We believe adoption of the PEO model by small businesses will continue to increase based on the ever changing compliance and regulatory environment.”  CoAdvantage will be the third platform investment for CIP Capital over the past year and the first within its Human Resources Outsourcing (HRO) sub-sector strategy.  Justin Lipton, Managing Director of CIP Capital, added: “We look forward to working with Mike and the entire management team to continue to scale the CoAdvantage platform by entering several new markets over the next few years.  CoAdvantage will continue to build industry-leading solutions to assist small businesses in addressing their ongoing HR, insurance and employee benefits needs.”

Madison Capital Funding LLC, TIAA and Fifth Street Finance Corp. provided debt financing for the transaction.  Sidley Austin LLP served as legal counsel to CIP Capital.  

For information please contact:

Justin Lipton 

Managing Director, CIP Capital

(212) 257-5002

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Bobby Kelly

Managing Director, CIP Capital

(212) 257-5004

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