First Advantage to Acquire Sterling Check for ~$2.2 Billion

Silver Lake Acquires First Advantage from Symphony Technology Group

November 25, 2019

Staffing & HR

Silver Lake has signed a definitive agreement to acquire First Advantage, a global provider of background screening, drug testing and identity solutions, from Symphony Technology Group. The deal will support First Advantage's technology differentiation and accelerate growth while First Advantage's senior management remains in place and meaningful equity holders.

Sterling Check Corp. Acquires Vault Workforce Screening

January 2, 2024

Healthcare Services

Sterling Check Corp. (NASDAQ: STER) acquired Vault Workforce Screening, a U.S. clinic management platform with a network of approximately 17,000 clinics, to expand its drug and health testing capabilities and in‑source key components of its supply chain. The acquisition is expected to add $40–50 million of annualized revenue and be accretive to Sterling's adjusted EPS in 2024 while enabling enhanced delivery of occupational health, MRO, and after‑hours scheduling services for employers in healthcare, transportation, and other regulated industries.

First Advantage Acquires Infinite ID for $41M

September 5, 2023

Cybersecurity

First Advantage Corporation (NASDAQ: FA) has acquired Infinite ID, a U.S.-based digital identity authentication company and portfolio company of Enlightenment Capital, in an all-cash transaction valued at $41 million. The deal expands First Advantage's digital identity and authentication capabilities in the United States by integrating Infinite ID's biometric and identity solutions into its screening and identity product portfolio.

AssuredPartners Acquires Sterling Insurance Group

August 4, 2021

Insurance

AssuredPartners, Inc. has acquired Sterling Insurance Group, Inc., a Sterling Heights, Michigan-based insurance agency. The 96-person agency, which generates about $20 million in annualized revenue and offers commercial, employee benefits and personal lines, will continue operating under its existing leadership as part of AssuredPartners' nationwide broker network.

Sterling Check Corp. Acquires Socrates Ltd.

January 4, 2023

Staffing & HR

Sterling Check Corp. (NASDAQ: STER) acquired Socrates Ltd., described as Latin America’s largest independent background screening company, to expand Sterling’s presence into Brazil, Colombia and Mexico. The acquisition, funded with cash on Sterling’s balance sheet, brings Socrates’ regional screening capabilities and management team into Sterling to accelerate growth in Latin America.

Guardian Capital LLC Acquires Sterling Capital Management from Truist Financial

February 3, 2024

Financial Services

Guardian Capital Group Limited announced it has agreed for its wholly owned subsidiary, Guardian Capital LLC, to acquire Sterling Capital Management from Truist Financial Corporation. The purchase is for $70 million on closing to buy 100% of Sterling’s equity, subject to customary adjustments and earn-outs, with anticipated closing in Q2 2024.