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The Riverside Company sells Health & Safety Institute

8 Aug 2012

Prolific US mid-market buyout house The Riverside Company has sold Health & Safety Institute (HSI), a company that provides CPR, EMT and healthcare training materials and services to help businesses meet workplace safety and health requirements.

The sale follows a six-year hold period that saw revenues at the Eugene, Oregon-based business grow roughly 25 per cent and EBITDA grow more than 126 per cent, Riverside said.

Financial terms of the deal were not disclosed.

Riverside invested in the company that became HSI when it purchased American Safety & Health Institute in July of 2006, and continued to grow the company throughout the hold period.

The business provides CPR, EMT and healthcare accreditation and training materials to more than 9,900 training centres in the US and several foreign countries representing over 36,000 instructors.

Riverside grew HSI both organically and through three add-on acquisitions – Medic First Aid International in 2006, 24-7 EMS in 2008, and EMP Canada Services in 2010, which extended the company’s reach in Canada.

The firm also grew the company organically, largely through operating team efforts and building the HSI brand and suite of products and services, and worked with HSI to develop new technology – including mobile applications – that helped differentiate the company and improve sales.

“Our deal and operating teams worked with a great management team at HSI to continuously enhance its product and content library, improve HSI’s branding, drive sales, and increase market share,” said Riverside managing partner Loren Schlachet.

Riverside principal Joe Lee added, “By focusing on improving the brand and quality of HSI’s products, and how those products were delivered, we were able to build a robust sales pipeline that ultimately boosted market share by producing a better customer experience.”

Signal Hill acted as exclusive financial advisor to Riverside on the transaction, while and Deloitte & Touche provided accounting and tax support and Jones Day provided legal counsel.

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