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 to Acquire HireRight
- Client News
- February 16, 2024
Paul, Weiss is advising a consortium comprised of investment funds affiliated with General Atlantic and Stone Point Capital in their $1.65 billion take-private acquisition of HireRight Holdings Corporation, a leading provider of global background screening services and workforce solutions.
General Atlantic and Stone Point Capital are currently the beneficial owners of approximately 75% of HireRight’s outstanding shares of common stock. Under the terms of the agreement, negotiated with an independent special committee comprised solely of independent directors and advised by its own independent legal and financial advisors, the consortium will acquire all outstanding shares they do not already own for $14.35 per share in cash. The transaction is expected to close in mid-2024, subject to customary regulatory approvals and closing conditions, including the approval of a majority of the holders of shares not already held by the consortium.
The Paul, Weiss team is led by corporate partners Matthew Abbott and Cullen Sinclair, and includes partners Christopher Cummings, Ben Steadman, Benjamin Goodchild, Caroline Epstein, Suhan Shim, Eric Wedel and John Kennedy, and counsel Kristiina Leskinen, Christopher Dickson, Nathan Mitchell and Todd Hahn; executive compensation partner Lawrence Witdorchic and counsel Ron Aizen; litigation partners Andre Bouchard, Andrew Gordon and John Carlin, and counsel Jacobus Schutte and Steven Herzog; tax partners Lindsay Parks and Reuven Garrett; intellectual property partner Claudine Meredith-Goujon; and antitrust counsel Marta Kelly.