October 05, 2023

Gauge Capital Closes Sale of TVC Pro-Driver to Love's

Southlake, TX – Gauge Capital (“Gauge”), a leading middle market private equity firm, has announced the sale of TVC Pro-Driver (“TVC” or “Pro-Driver”) to Love’s Travel Stops. Headquartered in Oklahoma City, OK, TVC is the market-leading platform for subscription-based commercial driver's license protection services and other benefits to individual owner-operators and fleets.

“We partnered with TVC in 2019 with the goal of building a best-in-class offering that enhanced the already significant benefits that the comprehensive commercial driver's license protection provides for truck drivers, and the partnership with Love’s is the culmination of those efforts. We are thankful to have worked with Jon Russell and the rest of the TVC team and look forward to what this new partnership will bring for the Company.” said Tom McKelvey, Co-Founder and Managing Partner at Gauge Capital.

“Gauge has been a valued partner for TVC over these past few years and our collective efforts have created a must-have service for our members. The entire TVC Pro-Driver organization is excited to join the Love’s Family of Companies and we look forward to the positive impact we believe this will bring for our employees and customers,” said Jon Russell, CEO of TVC Pro-Driver. “As a family-owned and privately held company, Love’s shares a lot of the same core values as TVC Pro-Driver—– innovation, perseverance, and work ethic—and a dedication to providing comprehensive solutions for our nation’s professional drivers.”

DC Advisory and Jefferies served as financial advisors and Ropes & Gray served as legal counsel to TVC on the transaction.  

About Gauge Capital (www.gaugecapital.com)
Gauge Capital is a leading middle-market private equity firm based in Southlake, Texas. Gauge invests in five key sectors: business services, food & consumer, government & industrial services, healthcare, and technology. The Firm manages more than $3.0 billion in capital and in 2020, 2021 and 2022, Inc. Magazine named Gauge one of the top private equity firms for founders. In 2021, 2022, and 2023 Gauge was also named to the Top 50 PE Firms in the Middle Market by Grady Campbell. In 2022, Gauge ranked in the top 5 out of 517 private equity firms in the HEC Paris – DowJones Small-Cap Buyout Performance Ranking. For more information, please contact Andrew Peix, Managing Director of Business Development at apeix@gaugecapital.com. 

About TVC Pro-Driver (www.prodriver.com)
TVC Pro-Driver helps professional truck drivers protect their careers and increase their profits with nationwide commercial driver's license legal protection, major commercial discounts, roadside assistance, driver rewards and more. As an industry leader and pioneer for more than 35 years, few companies know as much about truck drivers and fleets and what they need to succeed on and off the road than TVC Pro-Driver. We are the Pros behind the Pros. Learn more at prodriver.com.

About Love's Travel Stops (www.loves.com)
Love’s Travel Stops is the nation’s leading travel stop network with 644 locations in 42 states. Founded in 1964 and headquartered in Oklahoma City, the company remains family-owned and operated and employs more than 40,000 people. Love’s provides professional truck drivers and motorists with 24-hour access to clean and safe places to purchase gasoline, diesel fuel, fresh coffee, restaurant offerings and more. Love’s has over 430 truck service centers, which include Speedco and Love’s Truck Care locations. Love’s and Speedco combined is the largest oil change, preventive maintenance and total truck care nationwide network with over 1,500 maintenance bays and 1,200 emergency roadside vehicles available for customers. Love’s is committed to providing customers with “Clean Places, Friendly Faces” at every stop. To learn more, visit loves.com or follow the company on Facebook, Instagram, LinkedIn or Twitter.

 

Disclaimer: From time to time, Gauge may be recognized or ranked by independent third-party rating services or publications. Such recognitions or rankings are generally based on information prepared or submitted by the recognized advisory firm, and are usually limited only to those advisory firms who choose to participate in such surveys. Any third-party recognition or ranking that may be included should not be construed as a guarantee that any client or prospective client will experience any specific level of investment performance or receive any specific level of customer service, as a result of such recognition or ranking. Furthermore, any such recognition or ranking should not be construed as an endorsement by any of Gauge’s clients. As such, clients and prospective clients should not put undue reliance on any of these statements.