More vendor consolidation, this time in the background screening category. Background screening is another saturated segment with countless firms providing services and tech there.
SNH Capital Partners (“SNH”) announces the acquisition of Universal Background Screening (“Universal”), a leading provider of compliant and fully customizable background screening products and services, based in Phoenix, AZ, and merger with PeopleFacts, an SNH portfolio company. The combined company, which will operate under the Universal brand, will leverage deep industry expertise and award-winning scaled operations centers to create a national leader in background screening. Financial terms of the transaction were not disclosed.”This merger represents the next phase of Universal’s development as a market leader. SNH brings enormous operational, financial and strategic expertise in the sector to support the combined platform’s product innovation and expansion strategy going forward. I am pleased that Universal’s existing management team, which has been responsible for the company’s success with its clients and employees, is firmly committed to this next phase of development,” said Kevin Olson, who formed Universal in 2002 with a group of private investors.