SNH Capital Partners said March 13 that it acquired Universal Background Screening and is merging it with its portfolio company PeopleFacts. Financial terms weren’t announced. Universal Background, of Phoenix, provides background screening products and services. Gibson, Dunn & Crutcher LLP acted as legal adviser while WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital, provided financing to SNH.
SAN FRANCISCO, March 13, 2019 /PRNewswire/ — SNH Capital Partners (“SNH”) announces the acquisition of Universal Background Screening (“Universal”), a leading provider of compliant and fully customizable background screening products and services, based in Phoenix, AZ, and merger with PeopleFacts, an SNH portfolio company. The combined company, which will operate under the Universal brand, will leverage deep industry expertise and award-winning scaled operations centers to create a national leader in background screening. Financial terms of the transaction were not disclosed.
“This merger represents the next phase of Universal’s development as a market leader. SNH brings enormous operational, financial and strategic expertise in the sector to support the combined platform’s product innovation and expansion strategy going forward. I am pleased that Universal’s existing management team, which has been responsible for the company’s success with its clients and employees, is firmly committed to this next phase of development,” said Kevin Olson, who formed Universal in 2002 with a group of private investors.
“SNH is highly enthusiastic to partner with management and support the opportunities this combined platform will create in the U.S. background screening market,” said Jevin Sackett, Managing Partner and CEO at SNH.
Gibson, Dunn & Crutcher LLP acted as legal advisor and WhiteHorse Capital, the direct lending affiliate of H.I.G. Capital, provided financing to SNH for this transaction.
About SNH Capital Partners
SNH Capital Partners is a U.S.-based, private equity investor dedicated to acquiring and transforming companies in the lower middle-market. SNH has an active strategic presence in each of its core industries, partnering with best-in-class management teams to develop growth platforms across technology and technology-enabled business services leveraging its investment and operational resources. SNH’s portfolio companies are market-leading and rapidly growing providers of information, technology, and other business services across various industries. For more information, please visit www.snhcapitalpartners.com.