Our Private Equity Group is considered the go-to practice for complex, bespoke and firm-defining transactions. With clients ranging from the world’s leading institutional asset managers to prominent middle-market private equity and growth equity firms, we offer comprehensive advice to general partners, limited partners, co-investors and other equity stakeholders, as well as portfolio companies, lenders and financial sponsor groups. The depth and continuity of our relationships across the industry gives us a nuanced understanding of each client’s objectives and allows us to provide seamless, efficient counsel across the investment lifecycle.
General Atlantic and Stone Point Capital Complete Acquisition of HireRight
- Client News
- June 21, 2024
Paul, Weiss advised the sponsors, investment funds affiliated with General Atlantic and Stone Point Capital, in an approximately $1.7 billion take-private acquisition of HireRight Holdings Corporation, a leading provider of global background screening services and workforce solutions.
HireRight stockholders voted to approve the transaction at the company’s special meeting of stockholders. With the completion of the transaction, HireRight’s common stock has ceased trading and will no longer be listed on the New York Stock Exchange.
Prior to the transaction, General Atlantic and Stone Point Capital owned approximately 75% of HireRight’s outstanding shares of common stock. Under the terms of the deal, negotiated with an independent special committee comprised solely of independent directors and advised by its own independent legal and financial advisors, the sponsors acquired all outstanding shares they do not already own for $14.35 per share in cash.
The Paul, Weiss team was led by corporate partners Matthew Abbott and Cullen Sinclair, and includes partners Christopher Cummings, Ben Steadman, Benjamin Goodchild, Caroline Epstein, Suhan Shim, Eric Wedel, John Kennedy and Kristiina Leskinen, and counsel Christopher Dickson, Nathan Mitchell and Arik Hirschfeld; executive compensation partners Lawrence Witdorchic, Jarrett Hoffman and Ron Aizen; tax partners Lindsay Parks and Reuven Garrett; litigation partners Andrew Gordon, Andre Bouchard, John Carlin, Andrew Finch and Jacobus Schutte; intellectual property partner Claudine Meredith-Goujon; and antitrust partner Marta Kelly, and counsel Todd Hahn and Chad de Souza.