DW Healthcare Partners (“DWHP”), a healthcare-focused private equity, announced the sale of its portfolio company, Health & Safety Institute, Inc., (“HSI”) to The Riverside Company (“Riverside”), a New York-based private equity firm. The terms of the transaction were not disclosed.
DWHP invested in HSI in August 2012, partnering with the Company’s Chief Executive Officer Bill Clendenen. During DWHP’s ownership, the Company completed two highly synergistic acquisitions, Summit Training Source and WorkSafe Canada. These acquisitions expanded HSI’s presence in the high growth areas of workplace safety training and compliance.
HSI is a premier for-profit health and safety training and compliance company delivering a comprehensive solution of content, technology, and services delivery. Headquartered in Eugene, Oregon, HSI has established itself as a leader in emergency care (CPR, first aid, bloodborne pathogens), workplace safety, professional responder (firefighters, EMTs, paramedics, nurses, and physicians), and health & safety compliance with content consisting of over 780 courses The Company has a diverse base of nearly 42,000 customers and over 13,500 affiliated training centers.
“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.”
“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,” commented Bill Clendenen, CEO. “In collaboration 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.”
The sale marks the first portfolio realization for DWHP’s third equity fund, a $265 million investment vehicle which closed in January 2013. Paul Hastings LLP acted as exclusive legal advisor and Harris Williams & Co. served as exclusive financial advisor to the Company.
ABOUT DW HEALTHCARE PARTNERS
DW Healthcare Partners is a private equity firm focused exclusively on the healthcare industry. The firm manages over $800 million in committed capital and invests in profitable healthcare companies with proven management teams.
DW Healthcare Partners is led by seasoned healthcare executives with more than 110 years of combined industry experience. The firm provides the capital, strategic guidance, and acquisition expertise to help mid-to-late-stage companies realize their potential for growth.