Spire Capital Enters the Testing, Inspection, Certification and Compliance (TICC) Industry Through its Investment in ERI Solutions, Inc.
Spire Capital’s investment in ERI Solutions will help support the Company expand its technology solutions, grow its client footprint and create additional innovative service offerings
NEW YORK (January 24, 2019) – Spire Capital (or “Spire”), a leading New York based private equity firm specializing in technology-enabled business services, media, communications and education sectors, today announced an undisclosed investment in ERI Solutions, Inc. (“ERI” or the “Company”). Headquartered in Wichita, KS, ERI is a leading provider of regulatory compliance and business risk solutions. Spire is partnering with Nathan Vander Griend, President & CEO of ERI, who will continue to lead the organization with his management team.
Founded in 2007, ERI provides non-destructive testing, safety, industrial hygiene, environmental and insurance services to over 200 customers across the U.S. ERI’s services, the majority of which are federally mandated, help clients mitigate business risks and maintain compliance with regulations. The Company is utilizing a propriety, cloud-based platform for real-time field service data capture, risk control and compliance management. ERI will use Spire’s financial investment to support its technology platform, expand its customer base and continue innovation.
“My team has done an excellent job working with our clients to provide services to identify and mitigate their business’ risks” said Nathan Vander Griend, President & CEO of ERI. “This partnership with Spire will allow our team to serve our current and new clients with technology solutions that provide transparency into their testing, inspection, certification and compliance data.”
Anthony Cassano, Partner at Spire Capital, commented “Nathan has built ERI into a clear leader in its core market demonstrating his leadership ability, management’s domain expertise and the mission-critical nature of the Company’s service offerings. Spire is excited to partner with Nathan and the entire ERI employee base during ERI’s next phase of growth, which will include expansion in ERI’s core market, extension into targeted adjacent markets and strategic acquisitions.”
Anthony Cassano, Brad Johnson and Sean White will join ERI’s Board of Directors. Spire’s Executive in Residence in the TICC industry, Jim Campbell, will work with the Company as a Board Advisor.
This marks the ninth platform investment in Spire Capital Partners III.
Dentons US LLP served as legal counsel to Spire Capital. Hinkle Law Firm served as legal counsel to ERI Solutions.