First Advantage, a Symphony Technology Group (STG) portfolio company that provides talent acquisition solutions, has entered into an agreement to acquire the employment and resident screening business of LexisNexis Risk Solutions, a division of Reed Elsevier. A press release from First Advantage about the deal is available at http://www.fadv.com/uploadedFiles/News_and_Events/Press_Releases/First-Advantage-LexisNexis-Release-011713.pdf.
STG is a strategic private equity firm with the mission of investing in and being a partner in building software and services companies. STG’s current portfolio consists of 12 global companies with combined revenue of approximately $2.5 billion and thousands of employees spread across North America, Europe, and Asia.
According to the press release from First Advantage, the acquisition will make the company “a global leader in providing tens of thousands of employers around the globe a broad range of solutions designed to improve talent acquisition efforts and reduce hiring risk.” First Advantage currently has offices throughout North America, Europe, China, India, and other locations in Asia.
LexisNexis Risk Solutions, a provider of information that helps industries and government manage risk, is part of Reed Elsevier, a global provider of professional information solutions across a number of sectors.
Bank of America Merrill Lynch acted as financial advisor to First Advantage on the transaction and Bank of America Merrill Lynch and Tennenbaum Capital Partners, LLC, including its affiliate TCP Capital Corp., provided the financing.
The acquisition is expected to close in early March 2013, subject to closing conditions. Financial terms were not disclosed.
For information about background checks, visit Employment Screening Resources (ESR) – ‘The Background Check Authority’ and nationwide background screening firm accredited by The National Association of Professional Background Screeners (NAPBS®) – at http://www.esrcheck.com/ or call Toll Free 888.999.4474.
About Employment Screening Resources (ESR):
Founded by safe hiring expert Attorney Les Rosen in 1997, Employment Screening Resources (ESR) – ‘The Background Check AuthoritySM’– provides accurate and actionable information that empowers employers to make informed hiring decisions for the benefit of their organizations, employees, and the public. CEO Rosen literally wrote the book on background checks with “The Safe Hiring Manual” and ESR is accredited by The National Association of Professional Background Screeners (NAPBS), a distinction held by a small percent of screening firms. Employers choosing ESR know they have selected an agency meeting the highest industry standards. To learn more about ESR, visit http://www.esrcheck.com or call toll free 888.999.4474.
About ESR News:
The Employment Screening Resources (ESR) News blog – ESR News – provides employment screening information for employers, recruiters, and jobseekers on a variety of topics including credit reports, criminal records, data privacy, discrimination, E-Verify, jobs reports, legal updates, negligent hiring, workplace violence, and use of search engines and social network sites for background checks. For more information about ESR News or to send comments or questions, please email ESR News Editor Thomas Ahearn at [email protected]. To subscribe to the ESR News Blog Feed, visit http://www.esrcheck.com/wordpress/feed/. To subscribe to the complimentary ESRcheck Report monthly newsletter, please visit http://www.esrcheck.com/Newsletter/.