Riverside exits compliance firm HSI for the second time

Private equity firm The Riverside Company has sold compliance and training platform Health & Safety Institute (HSI) to Waud Capital Partners. Health & Safety Institute (HSI) is an environmental, health and safety (EHS) compliance and training platform based in Oregon that enables organisations of all sizes to make their workplaces and communities safer, by reducing financial and reputational risk and ensuring regulatory compliance. This was Riverside’s second investment in HSI, having previously exited the investment in 2012. During the hold Riverside worked with HSI to bring in CEO Chad Birckelbaw to head up the management team. Suzy Kriscunas, Managing Partner of Riverside, said: “We are proud of the work we’ve accomplished with HSI management to execute four strategic acquisitions to expand the addressable market, grow market share and increase recurring revenue mix.” Chad Birckelbaw, CEO of HSI, added: “It has been an absolute pleasure working with the Riverside team on this transaction, and HSI has found a terrific partner in Waud to help support the organisation’s next chapter of growth.”