Citizens M&A Advisory served as co-lead advisor to CareerBuilder on its sale of CareerBuilder Employment Screening to Accurate Background, a provider of automated workforce screening solutions. Accurate Background received an investment to support the acquisition from Apax Digital Fund, the technology-focused growth equity fund advised by Apax Partners.
CareerBuilder Employment Screening is a provider of employment screening solutions, including background checks, drug testing and I-9 compliance. CareerBuilder is owned by Apollo Global Management and Ontario Teachers’ Pension Plan Board.
“We were pleased to work with Citizens M&A Advisory on the carve-out of CareerBuilder Employment Screening,” Irina Novoselsky, CEO of CareerBuilder, said. “We valued their knowledge of the HR technology industry, assistance in communicating our exciting growth story to potential buyers and the creation of a strategic partnership with the ultimate buyer that will continue to benefit our organization.”
The transaction was led by Scott Rhodes, managing director and software practice lead at Citizens, with support from Dillon Bowles, managing director at Citizens Financial Group.
“It was a pleasure working with Irina and the rest of the management team at CareerBuilder,” Rhodes said. “They did an extraordinary job building a highly respected brand. We believe their innovative solutions and strong core values will continue to drive future growth.”
Citizens M&A Advisory specializes in middle-market mergers and acquisitions as well as later-stage financing transactions.