Accurate Background, a provider of compliant, automated workforce screening solutions, has closed its previously announced acquisition of CareerBuilder Employment Screening from CareerBuilder. No financial terms were disclosed. Apax Digital Fund, the technology-focused growth equity fund advised by global private equity advisory firm Apax Partners, made an investment to support this deal. CBES is a provider of background screening and drug-testing services and technology to employers in the U.S. and abroad.
IRVINE, Calif., March 26, 2020 /PRNewswire/ — Accurate Background, a leading provider of compliant, automated workforce screening solutions, today announced that it has completed its previously announced acquisition of CareerBuilder Employment Screening (CBES) from CareerBuilder. The combined entity will now operate under the Accurate Background brand, focused on growing global adoption of its background checks, drug and health testing, I-9 verifications and services portfolio, and delivering technology innovation, customer service and candidate experience at scale.
In conjunction with today’s news, the company also announced two new additions to Accurate’s executive leadership team. Kristen Whitt joins as Senior Vice President, Operations and Cheryl Cerkoske joins as Vice President of Sales. Kristen previously served as Executive Vice President at CBES, while Cheryl served as VP of Sales at CBES. “Kristen and Cheryl have been integral to CBES’ success in partnering with businesses of all sizes to expedite their employment screening process. We are excited to have them join our leadership team as we broaden our reach and accelerate business growth,” said Tim Dowd, President and COO of Accurate.
“The completion of our acquisition of CBES represents a tangible step forward in leading the industry with one of the most comprehensive workforce screening solutions available,” said Dave Dickerson, Founder and CEO of Accurate. “Our combined talent, innovative products and services and scale are exactly what enterprise, mid-market and small business customers need to simplify their background screening processes and ensure they remain fully compliant with today’s complex regulatory requirements.”
The acquisition of CBES, which offers highly complementary background screening and drug-testing services and technology to employers in the U.S. and abroad, strengthens Accurate’s pre-and post-employment screening market leadership and will accelerate the company’s mission to deliver the most innovative and comprehensive screening services. Through a strategic partnership agreement, CareerBuilder will continue to offer Accurate’s employment screening services to clients.
“The completion of the CBES acquisition places Accurate in a strong leadership position in the workforce screening market and represents an opportunity for us to broaden our reach and impact with existing and new customers,” said Dowd. “I look forward to working closely with our new colleagues that are joining us from CBES, and officially welcoming them as Accurate employees. I’d also like to thank the CareerBuilder management team for supporting this process and look forward to our continued strategic partnership.”
Financial terms of the transaction were not disclosed. The Apax Digital Fund, the technology-focused growth equity fund advised by global private equity advisory firm Apax Partners, supported the transaction with an investment in Accurate.
Barclays and Stifel served as financial advisors to Accurate and the Apax Digital Fund. Latham & Watkins, LLP and Simpson Thacher & Bartlett served as legal advisors to Accurate and the Apax Digital Fund, respectively. PJT Partners and Bowstring Advisors, a division of Citizens Capital Markets, are serving as financial advisors and Sidley Austin LLP is serving as legal advisor to CareerBuilder.
About Accurate Background
Accurate Background is a trusted provider of automated workforce screening. U.S. and international clients across all industries, from emerging businesses to Fortune 500 companies, rely on their compliant solutions. Accurate Background is accredited by the Professional Background Screening Association and has been recognized by Inc. 5000, Deloitte Technology Fast 500, and the Workforce Hotlist. To learn more, visit accurate.com.