HireRight Holdings Corporation, a leading provider of global background screening services and workforce solutions, has successfully completed its sale to investment funds affiliated with General Atlantic, L.P. and Stone Point Capital LLC. This all-cash merger transaction values HireRight at approximately $1.7 billion.
- Merger Completion: The sale to General Atlantic and Stone Point Capital represents a total enterprise value of $1.7 billion.
- Stockholder Approval: The transaction was approved by HireRight stockholders at a Special Meeting on June 21, 2024.
- Shareholder Compensation: Each outstanding share of HireRight common stock (excluding shares already owned by the Sponsors and those with validly exercised appraisal rights) was converted to $14.35 in cash.
- NYSE Delisting: HireRight’s common stock has ceased trading and is no longer listed on the New York Stock Exchange.
- Special Committee Advisors: Centerview Partners LLC acted as the financial advisor, and Davis Polk & Wardwell LLP served as the legal advisor for the Special Committee.
- Sponsor Advisors: Goldman Sachs & Co. LLC and RBC Capital Markets, LLC were the financial advisors, with Paul, Weiss, Rifkind, Wharton & Garrison LLP and Simpson Thacher & Bartlett LLP providing legal counsel.
The acquisition of HireRight by General Atlantic and Stone Point Capital marks a significant milestone for the company, ensuring substantial returns for its shareholders and marking its departure from public trading on the NYSE.
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