Strengthens Workforce Screening Business Management, Grows Breadth and Depth of Product Portfolio, Buyer Service Crew and Know-how Innovation
IRVINE, Calif., March 26, 2020 /PRNewswire/ — Correct Background, a number one supplier of compliant, automated workforce screening options, at the moment introduced that it has accomplished its beforehand introduced acquisition of CareerBuilder Employment Screening (CBES) from CareerBuilder. The mixed entity will now function below the Correct Background model, centered on rising international adoption of its background checks, drug and well being testing, I-9 verifications and providers portfolio, and delivering know-how innovation, customer support and candidate expertise at scale.
Together with at the moment’s information, the corporate additionally introduced two new additions to Correct’s govt management group. Kristen Whitt joins as Senior Vice President, Operations and Cheryl Cerkoske joins as Vice President of Gross sales. Kristen beforehand served as Government Vice President at CBES, whereas Cheryl served as VP of Gross sales at CBES. “Kristen and Cheryl have been integral to CBES’ success in partnering with companies of all sizes to expedite their employment screening course of. We’re excited to have them be a part of our management group as we broaden our attain and speed up enterprise progress,” stated Tim Dowd, President and COO of Correct.
“The completion of our acquisition of CBES represents a tangible step ahead in main the business with one of the complete workforce screening options obtainable,” stated Dave Dickerson, Founder and CEO of Correct. “Our mixed expertise, progressive services and products and scale are precisely what enterprise, mid-market and small enterprise prospects have to simplify their background screening processes and guarantee they continue to be totally compliant with at the moment’s advanced regulatory necessities.”
The acquisition of CBES, which gives extremely complementary background screening and drug-testing providers and know-how to employers within the U.S. and overseas, strengthens Correct’s pre-and post-employment screening market management and can speed up the corporate’s mission to ship probably the most progressive and complete screening providers. Via a strategic partnership settlement, CareerBuilder will proceed to supply Correct’s employment screening providers to shoppers.
“The completion of the CBES acquisition locations Correct in a robust management place within the workforce screening market and represents a possibility for us to broaden our attain and influence with current and new prospects,” stated Dowd. “I stay up for working intently with our new colleagues which might be becoming a member of us from CBES, and formally welcoming them as Correct workers. I might additionally prefer to thank the CareerBuilder administration group for supporting this course of and stay up for our continued strategic partnership.”
Monetary phrases of the transaction weren’t disclosed. The Apax Digital Fund, the technology-focused progress fairness fund suggested by international personal fairness advisory agency Apax Companions, supported the transaction with an funding in Correct.
Barclays and Stifel served as monetary advisors to Correct and the Apax Digital Fund. Latham & Watkins, LLP and Simpson Thacher & Bartlett served as authorized advisors to Correct and the Apax Digital Fund, respectively. PJT Companions and Bowstring Advisors, a division of Residents Capital Markets, are serving as monetary advisors and Sidley Austin LLP is serving as authorized advisor to CareerBuilder.