The Riverside Co. has sold Health & Safety Institute, an environmental, health and safety compliance and training platform, to Waud Capital Partners. This was Riverside’s second investment in HSI, having previously exited the investment in 2012.

Riverside Managing Partner Suzy Kriscunas said, “We are proud of the work we’ve accomplished with HSI management to execute four strategic acquisitions to expand the addressable market, grow market share and increase recurring revenue mix.”

“During our hold, we have worked with HSI to expand and enhance the management team, including bringing in CEO Chad Birckelbaw, who Riverside had previously partnered with at FairPay Solutions. We also invested in sales, marketing, and software development capabilities to accelerate HSI’s organic growth rate,” said Riverside Partner Steve Burns.

Working with Kriscunas, Burns and Partner Peter Tsang on the exit for Riverside were Vice President Fei Ren, Senior Associate John Ribble and Associate Vinay Raj. Partner Karen Pajarillo, Operating Partner Mark Reed, Operating Executive, Finance Rob Carraway and Partner, Capital Markets Anne Hayes assisted with the deal over the past four years. Managing Partner, Origination Jeremy Holland sourced the original investment.