Waud Capital Partners has made an investment in PSI Services, a provider of professional testing services to corporations, federal and state government agencies, professional associations and other certifying bodies.
PSI provides talent assessments (of job-seeking candidates as well as employee development programs), licensure testing services (for government regulatory agencies), certification credentialing services (for professional associations), license management services, and biometric identification authentication services. The company is headquartered in Burbank, CA (www.psionline.com).
“We are in the business of creating long-term value. We do it with a clear focus and vision. We look to partner with talented executives possessing successful track records of building market-leading companies with diverse business portfolios and global infrastructures,” said Matt Clary, Partner at Waud Capital. “We are thrilled to partner with the PSI team and we have significant equity capital available to support and enhance the company’s service offering and continue building the business. PSI is an exceptional platform and we look forward to a partnership full of exciting growth potential.”
Waud Capital Partners makes investments from $20 million to $100 million in middle-market companies with enterprise values from $30 million to $300 million that operate in the healthcare services and business services sectors. The firm was founded in 1993 and is headquartered in Chicago (www.waudcapital.com).
“Based on the excellent growth and diversity of PSI’s business portfolio, combined with its superior financial performance over the past four years, Waud Capital has made a significant equity investment in the company,” said Stephen Tapp, PSI’s Chief Executive Officer. “The interest of such a highly respected financial partner is a real testimony to our management team, our client and partners worldwide and our future growth strategy for high-stakes testing and assessment solutions.”
David Lowenberg, an Executive Partner at Waud Capital will join the Board of PSI as its Executive Chairman. “I welcome the opportunity to work with Steve Tapp and his management team to continue PSI’s success in servicing its clients, adding to its value proposition and growing the business,” said Mr. Lowenberg. Prior to joining Waud Capital in 2013, Mr. Lowenberg was Chief Operating Officer of Express Scripts and President and Chief Executive Officer of its Curascript subsidiary, a specialty pharmacy business.
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-5-15