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General Atlantic and Stone Point Capital complete acquisition of HireRight Holdings Corporation

Jun 29, 2024•over 1 year ago

Acquiring Company

General Atlantic

Acquired Company

HireRight

New YorkGreenwichNashvilleFintechFinanceFinanceFinancial ServicesRisk ManagementInformation Technology

Description

HireRight Holdings Corporation, a leading provider of global background screening services and workforce solutions, has announced the completion of its sale to investment funds affiliated with General Atlantic, L.P. and Stone Point Capital LLC in an all-cash merger transaction representing a total enterprise value of approximately $1.7 billion.

Company Information

Company

General Atlantic

Location

New York, New York, United States

About

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. It has a significant history in technology investments and aims to help companies maintain and improve their market standing through the right investment and portfolio optimization. General Atlantic is owned by funds managed by General Atlantic and affiliates.

Company

Stone Point Capital

Location

Greenwich, Connecticut, United States

About

Stone Point is an investment firm based in Greenwich, CT, with more than $55 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in alternative asset classes, including private equity through its flagship Trident Funds and credit through commingled funds and separately managed accounts. In addition, Stone Point Capital Markets supports its firm, portfolio companies and other clients by providing dedicated financing solutions.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed