M&A Deal Summary

First Advantage Acquires Sterling

On October 31, 2024, First Advantage acquired business services company Sterling for 2.2B USD

Acquisition Highlights
  • This is First Advantage’s 5th transaction in the Business Services sector.
  • This is First Advantage’s largest (disclosed) transaction.
  • This is First Advantage’s 5th transaction in the United States.
  • This is First Advantage’s 2nd transaction in Ohio.

M&A Deal Summary
Date 2024-10-31
Target Sterling
Sector Business Services
Buyer(s) First Advantage
Deal Type Add-on Acquisition
Deal Value 2.2B USD
Advisor(s) Goldman Sachs (Financial)
Fried Frank Harris Shriver & Jacobson (Legal)

Target

Sterling

Independence, Ohio, United States
Sterling is a provider of background and identity services that offers background and identity verification to help over 47,000 clients create people-first cultures built on a foundation of trust and safety. Sterling was founded in 1992 and is based in Independence, Ohio.

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Buyer(S) 1

Buyer

First Advantage

Atlanta, Georgia, United States
Category Company
Founded 2003
Sector Software
Employees3,800
Revenue 764M USD (2022)
DESCRIPTION

First Advantage is a provider of a comprehensive background screening, identity and information solutions that give employers and housing providers access to actionable information that results in faster, more accurate people decisions. First Advantage was founded in 2003 and is based in Atlanta, Georgia.

DEAL STATS #
Overall 7 of 7
Sector (Business Services) 5 of 5
Type (Add-on Acquisition) 5 of 5
State (Ohio) 2 of 2
Country (United States) 5 of 5
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 Infinite ID

Hicksville, New York, United States

Infinite ID is a digital identity authentication solutions company that provides deep national security, law enforcement, disaster response, and corporate expertise to solve next-generation identity and security challenges. The company designs advanced software, data, and integration solutions for complex scenarios where biometric identification and authentication are critical to security. Infinite ID is based in Hicksville, New York.

Buy $41M
Mergr

Product

Company

Legal