HireRight to launch $250 million incremental term loan on Wednesday

By Sara Rosenberg

New York, March 12 – HireRight Holdings Corp. is set to hold a lender call at 10:30 a.m. ET on Wednesday to launch a fungible $250 million incremental first-lien term loan, according to a market source.

Goldman Sachs Bank USA, RBC Capital Markets, Stone Point Capital Markets, Barclays, Citizens and Capital One are the arrangers on the deal.

Proceeds will be used to help fund the acquisition of the company by General Atlantic and Stone Point Capital LLC. The sponsors are the beneficial owners of about 75% of the company’s outstanding shares of common stock and will acquire the outstanding shares they do not already own for $14.35 per share in cash, which implies a total enterprise value of around $1.65 billion.

Closing is expected in mid-2024, subject to approval by stockholders of a majority of the shares not owned by the sponsors, receipt of regulatory approvals and other customary conditions.

HireRight is a Nashville-based provider of technology-driven workforce risk management and compliance solutions.

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