M&A Deal Summary

General Atlantic and Stone Point Capital Acquire HireRight

On February 16, 2024, growth capital firm General Atlantic and private equity firm Stone Point Capital acquired business services company HireRight for 1.7B USD

Acquisition Highlights
  • This is General Atlantic’s 24th and Stone Point Capital’s 17th transaction in the Business Services sector.
  • This is General Atlantic’s 5th and Stone Point Capital’s 7th largest (disclosed) transaction.
  • This is General Atlantic’s 160th and Stone Point Capital’s 89th transaction in the United States.
  • This is General Atlantic’s 3rd and Stone Point Capital’s 5th transaction in Tennessee.

M&A Deal Summary

Date 2024-02-16
Target HireRight
Sector Business Services
Buyer(s) General Atlantic
Stone Point Capital
Deal Type Going Private
Deal Value 1.7B USD

Target

HireRight

Nashville, Tennessee, United States
website
HireRight is a global background screening company that offers innovative solutions to help organizations screen and manage their workforce. HireRight was founded in 1990 and is based in Nashville, Tennessee.

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Buyer(S) 2

Buyer
DESCRIPTION

General Atlantic is a large private equity firm that invests globally in growth-oriented public and private companies. Broad areas of interest include financial services, media and consumer, healthcare, enterprise solutions, communications and electronics, and energy. General Atlantic looks to invest $40 to $400 million in transactions that support growth, expansions, buy-outs, consolidations and build-ups. General Atlantic seeks to make 8 to 12 investments per year with an investment horizon of five to ten years. The Firm's geographic coverage spans North America; Europe; Asia/Pacific; and India. General Atlantic was formed in 1980 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 337 of 340
Sector (Business Services) 24 of 24
Type (Going Private) 7 of 7
State (Tennessee) 3 of 3
Country (United States) 160 of 160
Year (2024) 3 of 6
Size (of disclosed) 5 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-08 Partners Capital

London, United Kingdom

Partners Capital is an Outsourced Investment Office acting for distinguished endowments and foundations, senior investment professionals, and prominent families across the globe. Partners Capital was founded in 2001 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-03 Ujala Cygnus Healthcare Services

New Delhi, India

Ujala Cygnus Healthcare Services provides multi-specialty care in orthopaedics, neurology, cardiology, gastro, and trauma related emergency care. Ujala Cygnus Healthcare Services was founded in 2011 and is based in New Delhi, India.

Buy -
Buyer

Stone Point Capital

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1994
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stone Point Capital is a private equity firm that targets investments in financial services sector. Specific areas of interest include insurance underwriting, outsourcing service providers to financial institutions, specialty lending and other credit opportunities, employee benefits and healthcare, asset management/retirement savings, and banking/depository institutions. Stone Point looks to commit between $5 and $500 million of equity per transaction and will consider control or substantial minority positions. Geographic areas of interest include North America and Europe. Stone Point Capital was formed in 1994 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 102 of 103
Sector (Business Services) 17 of 17
Type (Going Private) 7 of 7
State (Tennessee) 5 of 5
Country (United States) 89 of 90
Year (2024) 2 of 3
Size (of disclosed) 7 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-08 ClearPoint Health

Columbia, South Carolina, United States

ClearPoint Health is a full-service medical stop-loss captive platform for small and mid-sized employers. ClearPoint is a provider-sponsored medical stop-loss captive, an innovative new insurance program. ClearPoint Health is based in Columbia, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-02 SunFire

Clifton, New Jersey, United States

SunFire is a SaaS technology company providing transformative and proven IT solutions and services to support the rapidly growing Medicare market. The company's core quoting and enrollment technologies enable brokers to compliantly sell Medicare Advantage, Prescription Drug, and Medicare Supplement plans within a proprietary cloud-based platform. It delivers innovative post-enrollment engagement solutions providing third-party verification technology and advocate services, ensuring the beneficiary's intent to enroll, health risk assessment completion as well as the activation of plan benefits. SunFire is based in Clifton, New Jersey.

Sell -