AUSTIN, TEXAS and SHENANDOAH, TEXAS – October 21, 2014 – Greenridge Investment Partners, an Austin, Texas based private equity firm, today announced an investment in Veriforce, LLC, the leading provider of integrated compliance, safety, and training solutions specifically tailored to energy operators and their contractors. With this investment, Greenridge’s Ben Moss has joined the Veriforce Board.
Founded in 2001, Veriforce serves thousands of customers within the upstream, midstream, and downstream segments of the energy industry. The Company’s contractor management platform, an easy-to-use online database, helps energy operators pre-qualify and monitor their contractors to ensure they meet both regulatory and internal compliance, safety and training requirements. Veriforce provides additional layers of support to its contractor management platform with managed services offerings, such as contractor audits (desktop and field) and compliance program monitoring led by an in-house team of regulatory and safety experts from the oil and gas industry. Veriforce also offers online and instructor-led training, designed for the oil and gas industry and built in collaboration with subject matter experts.
“This is an exciting time for Veriforce and a testament to our growth prospects,” said Louie Werderich, CEO of Veriforce. “Greenridge’s collaborative team, deep network of relationships, and patient approach made them the ideal partner to support our expansion plans. In partnership with Greenridge, we look forward to continuing our rapid growth, while maintaining the level of quality and excellence our customers expect.”
“Veriforce’s vertically-focused solution, integrated product offering, and unmatched customer support provide a unique solution to oil and gas operators seeking world-class contractor management solutions, compliance programs, and safety training,” said Greenridge Partner, Ben Moss. “We are proud to partner with the Veriforce team and look forward to supporting the Company’s expansion plans.”
“This is precisely the kind of investment that our firm seeks to make,” said Jack Cardwell, Partner at Greenridge. “Louie was seeking more than capital from a private equity firm; he was looking for a true partner to help him grow his business. We are honored that he has elected to partner with Greenridge and we are excited about what lies ahead for Veriforce.”
ABOUT GREENRIDGE INVESTMENT PARTNERS
Greenridge Investment Partners is a private equity firm located in Austin, TX. Greenridge invests in leading lower middle-market businesses with attractive growth characteristics and proven track records of profitability. Greenridge is a patient capital partner with a flexible mandate, investing on behalf of family offices and select institutions in Texas and the southern U.S. For further information, see www.greenridgeinv.com.