Serent Capital Acquires Safety Services

Serent Capital Acquires Safety Services

Serent Capital has completed a majority investment in Safety Services, a provider of safety and compliance products and services. The company’s founder, Devon Dickinson, was looking to move to an advisory role and to find a capital partner who could help the company take advantage of multiple growth opportunities. Mr. Dickinson retains a significant equity interest in the company and is continuing to support Safety Services as an active board member.

“I am very excited about Serent’s investment in Safety Services,” said Mr. Dickinson. “Serent clearly has the operating experience to help the company navigate the challenges of rapid growth. I also recognize the need to build out our organization, and I am pleased to say that Serent has already helped us add significantly to our executive team.”

Safety Services is a provider of safety and compliance products and services to small and mid-sized businesses in the US and Canada. The company sells customizable safety materials, training kits, and compliance solutions tailored to meet the safety and compliance requirements in industries such as construction, oil & gas, and healthcare. Safety Services is headquartered in Tempe, AZ (

Safety Services represents a platform investment for Serent in the compliance industry and Serent Capital is actively looking for add-on acquisitions. Possible acquisition targets include providers of human resources compliance services or compliance services targeting specific markets such as healthcare or heavy industries. Ideal targets will have at least $5 million in revenues, a large installed base of small and mid-sized customers, strong recurring revenues, and 40+% gross margins.

With Serent’s support, the new Board of Directors has hired a new CEO, Peter Schrady, and the company has recently added several additional executives to help scale the business. Serent is working closely with the new management team as it accelerates the company’s growth.

“Safety Services has a strong leadership position in industries such as construction and oil & gas,” said Mr. Schrady. “Contractors in heavy industries are facing a proliferation of safety and compliance regulations, and Safety Services is in an ideal position to expand its products and services to address these needs. Furthermore, we see tremendous opportunity to continue the company’s expansion to other markets.”

Serent Capital invests from $10 million to $100 million in service businesses with revenues from $10 million to $100 million and EBITDAs from $3 million and $10 million. Transaction types include buyouts, recapitalizations and growth capital. The firm is based in San Francisco, CA (

“The company’s extraordinary growth is a testament to the founder’s vision and execution to date. We see an opportunity to dramatically grow this business, and we are excited to support the company as it continues to innovate,” said David Kennedy, co-founder and General Partner of Serent Capital.

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