HSI’s Acquisition Of Solv Solutions Rounds Off A Huge Month Of Acquisitions In The EHS Software Space
During July 2021 Verdantix has identified eight EHS software financial transactions with providers EcoOnline, Ideagen, SHE Software, VelocityEHS and HSI all acquiring firms to advance their strategic growth strategies. Meanwhile, Blackstone acquired Genstar Capital’s entire holding in Sphera, valuing the EHS and ESG software firm at a monster $1.4 billion.
July’s spell of acquisitions continues the long-term trend of an increasingly dynamic market landscape and is a positive sign for the market following COVID-19. Across 2017 and 2018 Verdantix tracked 20 EHS software transactions, while in the following two years we identified more than 40. Moreover, the influx of transactions points to rapid platform development, demand for innovation and heightened competition among providers, all good news for buyers.
Rounding off July’s flurry of deals is HSI’s acquisition of Solv Solutions, an injury and claims management, safety management and health solutions provider. The Australia-based software-as-a-service (SaaS) firm has 45 employees and boasts more than 450 clients including Aldi, McDonalds, Mondelez and Qantas. What is the significance of HSI’s latest acquisition? Firstly, the Solv Solutions transaction continues HSI’s aggressive growth strategy facilitated by capital investment by Waud Capital Partners. During the past 12 months HSI has acquired Vado, SOS Intl and ej4, all eLearning providers. While recent acquisitions have deepened HSI’s existing training competencies, the addition of Solv Solutions aims to broaden the firm’s offering. “Solv augments HSI’s position in the EHS software market by adding injury management and occupational health solutions to our workplace safety and compliance capabilities,” commented Chad Birckelbaw, CEO of HSI.
Secondly, Solv Solutions will strengthen HSI’s presence in the APAC region and in particular Australia. Verdantix has identified APAC as an emerging market for EHS software, our most recent EHS software market size and forecast report projects a CAGR of 13% between 2021 and 2026 for the APAC region. HSI recognizes the market opportunity in Australia and has made moves to expand its business operations in the region. Consider the acquisition of Donesafe, an Australia-based safety and compliance management software platform, in February 2020.
The acquisition of Solv Solutions signals HSI’s intent to expand its software functionalities and provides further evidence of an increasingly competitive EHS software market landscape. To learn more about the EHS software market, key trends and the capabilities of prominent providers, visit our latest research.