Health & Safety Institute Acquires Safetec Creating an Integrated EH&S Technology, Content and Training Solutions Provider
On January 11, the Health & Safety Institute (HSI) announced its acquisition of SafeTec Compliance Systems (SafeTec) the product stewardship and chemical inventory software provider. This deal continues the trend of private equity backed buy outs as HSI is owned by mid-market growth capital finance firm the Riverside Company. SafeTec brings HSI a robust software platform for safety data sheet management, GHS compliance, chemical tracking, on-site chemical inventory and environmental reporting. The two firms plan to combine these technology assets with the HSI capabilities for online health and safety training and in-person training delivered by a network of 49,000 independent authorized trainers. By combining technology, content and services SafeTec and HSI anticipate delivering an integrated solution which combines the scalability of software with a huge training and change management network.
Verdantix believes that the combination of SafeTec and HSI has the potential to succeed given the complementary assets and the strong overlap in target markets both in terms of corporate buyers, government buyers and geographic coverage in North America. The Health and Safety Institute, founded in 1978, has a sales channel through its network of 49,000 authorized trainers which is impossible to replicate for competing product stewardship software firms and EH&S services providers. By reshaping and repackaging SafeTec software solutions to fit the needs of the mid-market and small business market for health and safety management, HSI will strengthen its hold on these segments. The biggest risk to manage is the need to continue funding SafeTec product innovation in the context of a content and training business. Initially this appears not to be an issue as SafeTec/HSI will bring new EHS technology offerings to market in 2016.
For a full overview of your product stewardship options attend the forthcoming Verdantix webinar “Product Stewardship: The Current State And Near-Term Outlook” on March 10, 2016.