Austin, TX, October 23, 2014 --(PR.com
)-- 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 a prototypical investment for our firm,” said Jack Cardwell, Partner at Greenridge. “Louie sought more than capital as he was looking for a partner to help him grow his business, and we are honored that he has elected to partner with Greenridge to help Veriforce continue its impressive growth trajectory.”
Veriforce, headquartered in Shenandoah, Texas, is the leading provider of integrated compliance, safety, and training solutions specifically tailored to energy operators and their contractors. Founded in 2001, Veriforce serves thousands of customers within the upstream, midstream, and downstream segments of the energy industry. Service offerings include: contractor management for operator qualification (OQ) compliance, OQ program assessments and monitoring, contractor management for operator-specific safety and insurance requirements (including desktop and field audits), drug and alcohol monitoring, compliance and safety training (instructor-led and online), and training software. To learn more about Veriforce, visit www.veriforce.com.
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.