Altegrity Looking to Sell Background Check Division HireRight for Up to One Billion Dollars

Altegrity Inc. is looking to sell its HireRight division – which provides background checks for private-sector employers – for a price of up to $1 billion, according to a report from Reuters available at http://www.reuters.com/article/2013/07/02/us-providence-altegrity-idUSBRE9610TB20130702.

Reuters reports that the potential sale of HireRight by Altegrity, which is owned by private equity firm Providence Equity Partners, comes while another of Altegrity’s units, USIS, faces a U.S. government investigation over its 2011 background check of National Security Agency leaker Edward Snowden.

Irvine, California-based HireRight is one of the largest employment screening providers with around $95 million in annual earnings before interest, tax, depreciation and amortization (EBITDA) and could be sold for approximately 10 times that amount to “help relieve financial woes for Altegrity,” Reuters reports.

Altegrity – which was bought by Providence for $1.5 billion in 2007 from Carlyle Group LP (CG.O) and Welsh, Carson, Anderson & Stowe – did not immediately respond to requests for comments on the story and representatives for Providence Equity declined to comment on the story, according to Reuters.

Employment Screening Resources® (ESR) – ‘The Background Check Authority®’ – is a nationwide screening firm accredited by the National Association of Professional Background Screeners (NAPBS®). For more information, visit https://www.esrcheck.com or call Toll Free 888.999.4474.

Source: http://www.reuters.com/article/2013/07/02/us-providence-altegrity-idUSBRE9610TB20130702

About Employment Screening Resources® (ESR):

Founded by safe hiring expert Attorney Les Rosen in 1997, Employment Screening Resources® (ESR) – ‘The Background Check Authority®’– 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 https://www.esrcheck.com or call toll free 888.999.4474.

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