The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Federal Wage & Labor Law Institute (FWLLI), a labor law consulting company that maintains and provides government-mandated labor law compliance posters to businesses across the United States. This acquisition is the latest add-on to Riverside’s portfolio company, OutSolve LLC, a leading provider of outsourced labor and employment compliance solutions.
Founded in 1989, FWLLI is a provider of labor law posters and educational resources, dedicated to helping businesses understand and adhere to the ever-changing landscape of federal and state labor laws. FWLLI serves as a one-stop compliance shop for businesses, featuring its All-In-One™ labor law poster, innovative notification system and AutoComply services.
“This strategic investment advances our growth plans for OutSolve – allowing the company to expand into adjacent HR compliance services and into different verticals,” said Riverside Capital Appreciation Fund (RCAF) Partner Drew Flanigan. “We also plan to leverage FWLLI’s services to enhance OutSolve’s latest offerings so customers can feel at ease when dealing with compliance needs.”
“Not only will this add-on bring additional resources to OutSolve’s services and capabilities, but it will also reduce compliance complexity for business owners,” added RCAF Principal Daniel Grinnan.
This acquisition is another example of Riverside’s expertise in investing in and growing tech-enabled business service companies. Riverside has invested in more than 350 business service companies since its inception in 1988.
“FWLLI punches well above its weight, and we’re looking forward to leveraging their expertise,” said OutSolve President and Founder Jeremy Mancheski. “The ability to stay ahead of ever-changing compliance standards is an ongoing issue across many businesses. Together, we’ll be able to support clients with reputable service offerings and trusted compliance capabilities.”
Working with Flanigan and Grinnan on the investment for Riverside were Vice President Scott Henderson, Senior Associate Jared Beauchamp and Associate Armando Torres. The investment was sourced by Origination Partner Grant Marcks.
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