Add-on Acquisition • Business Services

First Advantage Acquires Sterling

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

Acquisition Context
  • This is First Advantage’s 6th transaction in the Business Services sector.
  • This is First Advantage’s 2nd largest (disclosed) transaction.
  • This is First Advantage’s 6th transaction in the United States.
  • This is First Advantage’s 3rd transaction in Ohio.

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M&A Deal Summary

Date October 31, 2024
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 Company

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 Overview 1

Buyer

First Advantage

Atlanta, Georgia, United States

Category Company
Founded 2003
Sector Software
Employees10,000
Revenue 860M USD (2024)
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 Context for Buyer #
Overall 8 of 8
Sector: Business Services 6 of 6
Type: Add-on Acquisition 6 of 6
State: Ohio 3 of 3
Country: United States 6 of 6
Year: 2024 2 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-10-31 Sterling

Independence, Ohio, United States

Sterling is a provider of criminal background checks, employment and education verification, drug testing and other pre-employment related screening services. Sterling was founded in 1975 and is based in Independence, Ohio.

Buy $2.2B