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OutSolve Secures Strategic Growth Investment from The Riverside Company

By Carla Pittman - Oct 18, 2022 8:30:00 AM - 3 MINS READ

The Riverside Company's Investment Positions OutSolve for Accelerated Growth and Further Expansion of Offerings

OutSolve announces today the completion of a strategic investment partnership with The Riverside Company, a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 850 investments, and its structured capital portfolios include more than 140 companies. The partnership aims to further accelerate OutSolve’s market success by providing access to capital and operational resources.

Founded in 1998, OutSolve provides employment compliance solutions to help clients adhere to federal contracting standards and other regulations designed to promote non-discriminatory policies in the workplace. The Company services more than 2,000 customers in a variety of industries across the U.S.

 “We are excited to partner with the OutSolve team,” said Riverside Partner Drew Flanigan. “The Company’s end markets are supported by strong regulatory tailwinds as well as the broader corporate move towards DE&I, ESG, and social responsibility, which are all critically important. These fundamentals provide a robust platform for growth as we look to expand into adjacent service offerings and new end markets.”

 In addition to pursuing organic growth through building scale in areas such as pay equity, DE&I and ESG, Riverside plans to continue OutSolve’s strong track record of growing through add-on acquisitions.

 OutSolve Founder and President Jeremy Mancheski said, “We are delighted to be joining forces with Riverside, who brings to the table enormous growth resources and experience with compliance-related businesses. We have developed a strong rapport with the team and look forward to working with them to drive the next stage of our company’s growth.”

 “OutSolve’s management has a strong track record of successfully closing and integrating acquisitions, having completed eight add-ons over the past six years,” said Riverside Co-Chief Investment Officer Peter Tsang. “During our partnership, we plan to continue the Company’s proven acquisition strategy in our core markets and expand our existing presence in adjacent markets including pay equity, DE&I, and ESG.”

 Working with Flanigan and Tsang on the investment for Riverside was the team of Principal Daniel Grinnan, Senior Associate Scott Henderson, Senior Associate Ben Wilson, Senior Associate Jared Beauchamp, Operating Finance Executive David Kralic and Managing Director, Human Capital, Mara Edgar. Senior Partner Anne Hayes secured the debt financing, and the investment was sourced by Principal, Origination Grant Marcks.

 About OutSolve

Founded in 1998, OutSolve is a leading employment compliance consulting firm dedicated to helping companies comply with Office of Federal Contractor Compliance Programs' (OFCCP) regulatory requirements. The Company specializes in affirmative action plan preparation, OFCCP audit support, DE&I, pay equity, and most recently ESG.

 About The Riverside Company

The Riverside Company is a global private equity firm focused on investing in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has made more than 870 investments. The firm's international private equity and structured capital portfolios include more than 130 companies.

Carla Pittman

Carla is a 20-year veteran with extensive experience in marketing strategy, product management, and brand development. Prior to OutSolve, she spent over 17 years in the affirmative action solutions space, working side-by-side with sales and AAP experts to deliver a superior client experience. As Vice President of Marketing for OutSolve, Carla's responsibilities include leading demand generation, brand management, driving customer engagement, and supporting the company's growth initiatives. Originally from Boston, Carla loves the Patriots but can be seen occasionally cheering for the Saints. In her spare time, she loves traveling, hanging with family, and curling up with a good movie.

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