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Waud Capital Says Let’s Be Safe Out There

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Health & Safety Institute (HSI), a portfolio company of Waud Capital Partners, has acquired Martech Media, a provider of industrial technologies training services. Waud Capital acquired HSI from The Riverside Company in September 2019.

Martech Media (DBA Martech Training Services) provides e-learning and classroom-based training services to employees active in the electrical generation, oil and gas, public utilities, paper and pulp, and industrial processing sectors.

The company’s training curriculum includes facility operations, equipment installation, maintenance, troubleshooting, and other general industrial skills. Each year, Martech trains more than 30,000 employees in 20 different countries.

Martech was founded in 1997 by its executive director Mark Streifel and is headquartered in The Woodlands, Texas. “HSI is the perfect home for our team and our customers,” said Mr. Streifel. “Not only do our training solutions and services complement HSI’s offerings nicely, but we also share a common company culture and the belief that a more knowledgeable and skilled workforce equals a safer and more reliable workplace.”

Health & Safety Institute is a provider of emergency care training, continuing education, safety training, and chemical compliance services. Company-owned brands include American Safety & Health Institute, MEDIC First Aid, 24-7 EMS & Fire, National Training Solution, SafeTec, Summit Training Source, Vivid Learning Systems, and WorkSafe Canada. HSI, led by CEO Chad Birckelbaw, was founded in 1977 and is headquartered in Eugene, Oregon.

“We are excited to add Martech Media’s technical skills training to our growing catalog of workplace e-learning courses designed to help health, safety and operations professionals work more efficiently, safely and competently,” said Mr. Birckelbaw. “Our mission is to deliver solutions that make the workplace and community safer, and we’re thrilled that Martech Media has joined with us to expand our customer offerings.”

Chicago-based Waud Capital makes investments from $50 million to $150 million in middle-market companies with enterprise values from $50 million to $250 million that operate in the healthcare services, technology, and business services sectors. Since its founding in 1993, the firm has made more than 290 investments, including platform companies and add-on acquisitions.

© 2019 Private Equity Professional | December 5, 2019

DWHP Exits Health and Safety Institute

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hsi nf1DW 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).

Andrew Carragher nf1“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

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