On February 16, 2024, HireRight Holdings Corporation, a leading provider of global background screening services and workforce solutions, announced that it has entered into a definitive agreement to be acquired by investment funds affiliated with General Atlantic, L.P. and Stone Point Capital (the “Sponsors”). Under the terms of the agreement, the Sponsors will acquire all of the outstanding shares they do not already own for $14.35 per share in cash, which implies a total enterprise value of approximately $1.65 billion. Wilson Sonsini Goodrich & Rosati advised Centerview Partners LLC, the financial advisor to the Special Committee formed by HireRight’s board of directors to evaluate the proposal from the Sponsors, as well as other alternative proposals.

The purchase price represents a premium of approximately 47 percent over HireRight’s 30-day volume weighted average price per share as of November 17, 2023, the last trading day prior to when the Sponsors indicated that they had agreed to work together regarding a potential strategic transaction involving HireRight, and an approximate 43 percent premium to HireRight’s closing stock price on the same date.

The Wilson Sonsini team that advised Centerview Partners includes:

Amy Simmerman
James Griffin-Stanco
Marty Korman
Doug Schnell
Abby Prithivi

For more information, please see HireRight’s news release.