Parties
Company
VelocityEHS
Company
Contractor Compliance
On January 8, 2024, VelocityEHS, a global leader in enterprise EHS & ESG software solutions, has successfully acquired Contractor Compliance, a Canadian enterprise specializing in safety and risk management software. This acquisition integrates cutting-edge contractor and vendor compliance features into the VelocityEHS Accelerate Platform, enhancing access for industries such as manufacturing, food & beverage, and pharmaceuticals. The addition promises to streamline contractor management processes, potentially reducing compliance administration by up to 70% compared to traditional methods.
Matt Airhart, CEO of VelocityEHS, highlighted the acquisition's alignment with their goal of simplifying complex safety challenges through well-designed software. He praised Contractor Compliance's effective approach to minimizing risk and administrative workload in vendor management. Mark Bania, CEO and co-founder of Contractor Compliance, expressed enthusiasm about joining the VelocityEHS family, emphasizing the extended reach and impact on creating safer work environments their solutions would now have.
Contractor Compliance brings several key features to the VelocityEHS suite, including automated workflows, enhanced stakeholder management, audit facilitation, contractor scoring and requalification, and mobile worker management. Their rapid deployment model, promising implementation in 30 days or less, complements the existing Control of Work solutions on the Accelerate Platform, which supports seamless management of operational risks across global enterprises.
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
08 January 2024