HireRight Announces Completion of Acquisition by General Atlantic and Stone Point Capital

By Business Wire On Jun 28, 2024

HireRight Holdings Corporation (“HireRight” or the “Company”), a leading provider of global background screening services and workforce solutions, today announced the completion of its sale to investment funds affiliated with General Atlantic, L.P. (“General Atlantic”) and Stone Point Capital LLC (“Stone Point”, and together with General Atlantic, the “Sponsors”) in an all-cash merger transaction representing a total enterprise value of approximately $1.7 billion. As previously disclosed, HireRight stockholders voted to approve the transaction at the Company’s Special Meeting of Stockholders on June 21, 2024.

Pursuant to the merger, the Sponsors acquired the Company, and all of the outstanding shares of the Company’s common stock (other than shares of the Company’s common stock that were already owned by the Sponsors and those in respect of which holders have validly exercised their statutory rights of appraisal) were converted into the right to receive $14.35 per share in cash. With the completion of the transaction, HireRight’s common stock has ceased trading and will no longer be listed on the New York Stock Exchange.

Centerview Partners LLC served as financial advisor to the committee of independent and disinterested directors established by the board of directors of HireRight (the “Special Committee”) and Davis Polk & Wardwell LLP served as the Special Committee’s outside legal advisor. Goldman Sachs & Co. LLC and RBC Capital Markets, LLC served as financial advisors to the Sponsors. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to the Sponsors and Simpson Thacher & Bartlett LLP served as legal counsel to Stone Point.

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