First Advantage Completes Acquisitions of Corporate Screening and MultiLatin

Rhea-AI Summary

First Advantage Corporation (NASDAQ: FA) has successfully completed the acquisitions of Corporate Screening Services, Inc. and MultiLatin Advisors, S.A. de C.V. This strategic move enhances First Advantage's expertise in healthcare and higher education screening and expands its international footprint in the compliance solutions market. CEO Scott Staples expressed optimism about these acquisitions, highlighting their alignment with capital allocation priorities and the potential for accelerated product innovation and market growth.

Positive

• Acquisition of Corporate Screening Services underscores focus on healthcare and higher education sectors.
• Expansion into the Mexican market via acquisition of MultiLatin Advisors enhances international presence.
• Expected synergies from acquisitions could lead to accelerated product innovation.

Negative

• None.

ATLANTA, Dec. 01, 2021 (GLOBE NEWSWIRE) -- First Advantage Corporation (NASDAQ: FA), a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital, announced that it has completed the acquisitions of Corporate Screening Services, Inc., a healthcare and higher education focused screening and compliance solutions provider headquartered in Cleveland, Ohio, and MultiLatin Advisors, S.A. de C.V, a screening and verifications provider based in Mexico City, Mexico.

“We are excited to welcome the Corporate Screening and MultiLatin teams to the First Advantage family, and we look forward to working together to grow our businesses”, said Scott Staples, Chief Executive Officer. “These acquisitions align with our capital allocation priorities and will provide us with accelerated vertical expertise, product innovation and international expansion.”

About First Advantage

First Advantage (NASDAQ: FA) is a leading global provider of technology solutions for screening, verifications, safety and compliance related to human capital. The Company delivers innovative solutions and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology platform, First Advantage’s products and solutions help companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants and drivers. Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of its more than 30,000 customers. For more information about First Advantage, visit the Company’s website at https://fadv.com/.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify, including those described under the “Risk Factors” section in our prospectus, dated November 10, 2021, filed with the Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b)(4) of the Securities Act of 1933, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. The forward-looking statements included in this press release are made only as of the date of this press release, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required by law.

Contacts

Investors:
Stephanie D. Gorman
Vice President, Investor Relations
Stephanie.Gorman@fadv.com
(888) 314-9761

Media:
Elisabeth Warrick
Senior Brand Communications Manager
Elisabeth.Warrick@fadv.com
(888) 314-9761

 

FAQ

What acquisitions did First Advantage Corporation announce on December 1, 2021?

First Advantage Corporation announced the acquisitions of Corporate Screening Services, Inc. and MultiLatin Advisors, S.A. de C.V. on December 1, 2021.

How will the acquisitions impact First Advantage's business?

The acquisitions are expected to enhance First Advantage's expertise in healthcare and higher education screening and support international expansion.

Who is the CEO of First Advantage and what was their statement about the acquisitions?

Scott Staples is the CEO of First Advantage. He stated that they look forward to working together with the new teams to grow their businesses.

What markets are being targeted by First Advantage with these acquisitions?

First Advantage is targeting the healthcare and higher education sectors, as well as expanding into the Mexican market.