General Atlantic has acquired a minority stake in Chapin, South Carolina-based General Information Services, a provider of background screening and personnel hiring services. No financial terms were disclosed. GIS Chairman Raymond Conrad will retain a controlling stake in the company. In addition to the investment, Peter Munzig and Mark Dzialga, managing director at General Atlantic, have been appointed to GIS’s board of directors.
Chapin, South Carolina and New York, New York, March 3, 2017 – General Information Services, one of the leading providers of background screening and talent acquisition services, today announced that General Atlantic, a leading global growth equity firm, has made a significant minority investment in the company. General Atlantic is partnering with Raymond Conrad, GIS’s Chairman, who will maintain a controlling stake in the company going forward.
GIS is one of the oldest and fastest-growing background screening and talent acquisition companies in the U.S. The company provides a full suite of background screening and compliance solutions to large enterprises and to small to medium-sized businesses, including criminal history searches, employment and education verifications, credit reports, driving records, drug testing, and a variety of industry-specific screening solutions, including one of the largest criminal records databases in the nation. Additionally, GIS offers a variety of pre-employment and onboarding services such as employment tax credit screening and management programs, Form I-9 and E-verify services, platforms designed to manage applicants of all types, and assistance with compliance and risk mitigation.
“We are thrilled to have General Atlantic join our company as a strategic investor and partner,” said Mr. Conrad. “We look forward to leveraging the firm’s renowned capabilities in technology, operational efficiency, growth acceleration, and global expansion as we continue to develop our leading background screening business around the world.
“GIS is dedicated to providing a superior level of customer care. We are continuing to invest in the technology of our customer-focused platform, which will speed service delivery, broaden our solutions, and care for our customers’ applicants. We are confident that our partnership with General Atlantic will enhance our delivery of excellent outcomes to our clients,” added Albert Bueno, Chief Executive Officer of GIS.
GIS was founded in 1966 to provide background screening services to clients in the insurance industry. Since then, GIS has expanded to provide a wide variety of pre- and post-hiring services to both large and small clients in industries including government, healthcare, retail, financial services, and education. GIS employs approximately 1,100 people in the United States and is headquartered in Chapin, South Carolina with additional operations in Dallas, Texas and Columbia, South Carolina.
In its next phase of growth, GIS will deploy additional research and development into enhancing its technology tools and operations while pursuing opportunities to expand its reach across new industries and markets. The company will remain focused on fulfilling its mission to provide the highest quality in the industry.
“GIS’s impressive track record of growth is a testament to its talented leadership team, committed employees, and unwavering client focus. As regulatory requirements and reputational risks around the hiring process increase, companies are looking to GIS for best-in-class technology and processes to meet their compliance and screening needs. We are excited to partner with Ray and the company to bring to bear expertise that supports their continued excellence while pursuing expansion of its services into additional markets, industries, and geographies,” said Peter Munzig, Principal at General Atlantic. “As a leading global growth investor, General Atlantic is well-positioned to elevate the GIS brand and advance the business through our unmatched resource offering, robust global network, and in-depth institutional knowledge of this industry.”
As part of the investment, Peter Munzig and Mark Dzialga, Managing Director at General Atlantic, will join GIS’s board of directors.
About General Information Services
GIS is one of the leading providers of background screening and talent acquisition solutions. For 50 years, GIS has been helping companies mitigate risk and hire smarter with industry leading technology and above-and-beyond customer service. An NAPBS-accredited employment background screening company, GIS provides high quality screening services to 1 out of 6 Fortune 500 companies and thousands of other organizations across the nation. GIS is continuously expanding its customer base and advancing its business by providing comprehensive national and international background check solutions and industry-specific services. For more information about GIS and its products or services, visit www.geninfo.com.
About General Atlantic
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector-specific expertise, long-term investment horizon, and a deep understanding of growth drivers to partner with great management and build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. www.generalatlantic.com