November 24, 2019 / 7:03 PM / 6 months ago

Silver Lake nears deal for First Advantage -sources

NEW YORK, Nov 24 (Reuters) - Private equity firm Silver Lake is nearing a deal to acquire First Advantage that could value the background checks provider at more than $1.5 billion, including debt, people familiar with the matter said on Sunday.

An agreement could be announced as early as this week, the sources said, cautioning that it is still possible that no deal will materialize.

The sources requested anonymity as the matter is confidential.

Silver Lake declined to comment. First Advantage and its owner, Symphony Technology Group (STG), did not respond to requests for comment.

STG acquired First Advantage in 2010 from real estate data analytics company CoreLogic Inc for $265 million.

Atlanta-based First Advantage is one of the largest players in the U.S. background checks market, which is expected to generate $3.2 billion in revenue in 2019, according to research firm IBISWorld.

Silver Lake, based in Menlo Park, California, has over $43 billion in combined assets under management and committed capital.

Reporting by Joshua Franklin in New York Editing by Sonya Hepinstall

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below