Simpson Thacher is representing funds managed by Stone Point Capital LLC (“Stone Point”) in connection with the entry by HireRight Holdings Corporation (NYSE: HRT) (“HireRight”) into an agreement to be acquired by investment funds affiliated with General Atlantic, L.P. (“General Atlantic”) and Stone Point. Under the terms of the agreement, General Atlantic and Stone Point will acquire all of the outstanding shares they do not already own for $14.35 per share in cash, implying a total enterprise value of approximately $1.65 billion.
HireRight is a leading global provider of technology-driven workforce risk management and compliance solutions. HireRight provides comprehensive background screening, verification, identification, monitoring, and drug and health screening services for approximately 37,000 customers across the globe.
Stone Point is an alternative investment firm based in Greenwich, Connecticut, with more than $50 billion of assets under management. Stone Point targets investments in companies in the global financial services industry and related sectors. The firm invests in alternative asset classes, including private equity through its flagship Trident Funds.
The Simpson Thacher team includes: Elizabeth Cooper, Mark Viera, Lawrence Page and Daniel Spicehandler (M&A); Benjamin Rippeon and William Smolinski (Tax); David Rubinsky, Jamin Koslowe, Megan Arrowsmith and Yifan Cao (ECEB); Jessica Asrat (Capital Markets); Christopher Brown (Banking and Credit); Peter Guryan and Richard Jamgochian (Antitrust); and Jennifer Nadborny and Bettina Elstroth (PCAP).