DW Healthcare Partners (DWHP) has sold its portfolio company, Health & Safety Institute (HSI), to The Riverside Company. This is the second bite of the apple for Riverside as the firm was the owner of HSI before its sale to DWHP in August 2012. Riverside acquired the company that became HSI when it purchased American Safety & Health Institute in July of 2006.
DW Healthcare Partners invested in HSI in August 2012, partnering with the company’s Chief Executive Officer Bill Clendenen. During the term of DWHP’s ownership the company completed two acquisitions with the buys of Summit Training Source and WorkSafe Canada. These acquisitions expanded HSI’s presence in workplace safety training and compliance.
“DW Healthcare Partners has been an exceptional partner for HSI and fully supported our strategic vision and the investments we made across our entire business,” said Mr. Clendenen. “Working with DWHP, we broadened our product portfolio through two acquisitions, expanded and strengthened our sales team and invested significantly in our technology platform. These investments will drive the continued growth of the business.”
HSI is a provider of health and safety training and compliance services. Sectors served include emergency care (CPR, first aid, bloodborne pathogens), workplace safety, professional responder (firefighters, EMTs, paramedics, nurses, and physicians), and health & safety compliance. The company has more than 40,000 customers and 13,500 affiliated training centers. HSI is headquartered in Eugene, OR (www.hsi.com).
“HSI’s management team lead by our CEO, Bill Clendenen, did an excellent job of growing and diversifying the HSI portfolio of brands and positioning the company for continued success,” said DWHP’s Founder and Managing Director Andrew Carragher. “We are confident that the team will continue to build on this track record with their new partner.”
DWHP is a private equity firm focused exclusively on the healthcare industry. The firm manages over $500 million in committed capital and invests in profitable healthcare companies with proven management teams. The sale of HSI marks the first portfolio realization for DWHP’s third equity fund, a $265 million investment vehicle which closed in January 2013. The firm is based in Park City, UT (www.dwhp.com).
Harris Williams & Co. was the exclusive financial adviser to HSI on this transaction.
2015 PEPD • Private Equity’s Leading News Magazine • 5-20-15