GTCR has committed up to $200 million in equity capital for the creation of ExcelusHR, a St. Peterserg, Fla.-based acquisition platform focused on the HR information and services industry. The company will be led by John Long, former CEO of First Advantage Corp. (Nasdaq: FADV).
GTCR, one of the nation’s leading private equity firms, today announced that it has entered into a partnership with John Long, David Kennedy and Ezra Schneier to form ExcelusHR. The new company, headquartered in St. Petersburg, Florida, will focus on acquiring and operating technology-based businesses in the human resources information and services industry. GTCR plans to invest up to $200 million of equity capital to support management’s strategy of building a leading human resources information and services company. Mr. Long will serve as Chief Executive Officer of ExcelusHR.
Mr. Long is the former Chief Executive Officer of First Advantage Corporation (NASDAQ:FADV), a leading risk mitigation and business solutions provider. Mr. Long became CEO of First Advantage in 2003, after the business was spun off from First American Corporation (NYSE: FAF). While at First Advantage, John created substantial value through the acquisition of over 60 companies in the human resources services, credit and screening information and investigation and litigation support industries. Prior to the formation of First Advantage, Mr. Long built the Real Estate Information Services business within First American through over 40 separate acquisitions including businesses in the flood services, tax services, field services and credit reporting industries.
“We are delighted to partner with John to build an industry-leading human resources information and technology services company,” said GTCR Principal Collin Roche. “Our partnership with John is another example of GTCR’s strategy of identifying a highly attractive industry and then forging a partnership with an exceptional executive to build a market leading company.”
“I am excited about the opportunity to build a premier human resources information and technology services provider that will enable employers to maximize their human capital through better recruiting, training, management and retention of their workforce,” said Mr. Long. “GTCR has a long history of backing experienced managers and their teams and providing them the resources and support required to build an industry leading company through both organic growth and acquisitions.”
“We continue to see a significant number of compelling investment opportunities in the human resources information and technology services industry,” added GTCR Vice President John Hofmann. “John has a long history of building market leading companies through acquisitions and has a significant track record of value creation. In partnership we expect to build a valuable enterprise in this dynamic and growing sector.”
Prior to the formation of ExcelusHR, Mr. Kennedy held a variety of operating roles at First Advantage, including Executive Vice President of the Investigative and Litigation Support segment and President of the Background Verification Group. Mr. Schneier formerly worked with Mr. Long at First Advantage, where he led business development and acquisition efforts as the Vice President of Corporate Development.
GTCR’s investment in ExcelusHR will be made from GTCR Fund IX LP, a private equity fund with $2.75 billion of committed capital.
ExcelusHR is a company focused on acquiring technology-based businesses in the human resources information and services industry. For more information about ExcelusHR email firstname.lastname@example.org.
Founded in 1980, GTCR Golder Rauner, LLC is a leading private equity investment firm and long-term strategic partner for outstanding management teams. The Chicago-based firm pioneered the investment strategy of identifying and partnering with exceptional executives to acquire and build companies through a combination of acquisitions and strong internal growth. GTCR currently manages more than $8 billion of equity capital invested in a wide range of companies and industries. More information about GTCR can be found at www.gtcr.com.