First Advantage Corp.

General Information
Business:

First Advantage is a leading global provider of technology solutions for screening, verifications, safety, and compliance related to human capital. We deliver innovative solutions and insights that help our customers manage risk and hire the best talent. Enabled by our proprietary technology platform, our products and solutions help companies protect their brands and provide safe environments for their customers and their most important resources: employees, contractors, contingent workers, tenants, and drivers.

We manage one of the earliest and most important interactions between an applicant and our customer. Indeed, most applicants view their screening experience as a reflection of the hiring organization and its overall onboarding process. Our comprehensive product suite includes Criminal Background Checks, Drug / Health Screening, Extended Workforce Screening, Biometrics & Identity, Education / Work Verifications, Resident Screening, Fleet / Driver Compliance, Executive Screening, Data Analytics, Continuous Monitoring, Social Media Monitoring, and Hiring Tax Incentives. We derive a substantial majority of our revenues from pre-onboarding screening and perform screening in over 200 countries and territories, enabling us to serve as a one-stop-shop provider to both multinational companies and growth companies. In 2020, we performed over 75 million screens on behalf of more than 30,000 customers spanning the globe and all major industry verticals. We often have multiple constituents within our customers, including Executive Management, Human Resources, Talent Acquisition, Compliance, Risk, Legal, Safety, and Vendor Management, who rely on our products and solutions.

Our long-standing, blue-chip customer relationships include five of the U.S.’s top 10 private-sector employers, 55% of the Fortune 100, and approximately one-third of the Fortune 500. We have successfully gained market share by focusing on fast-growing industries and companies, increasing our share with existing customers, upselling and cross-selling new products and solutions, and winning new customers.

Note: On Jan. 31, 2020, Silver Lake Group LLC acquired substantially all of the equity interests of the Company from Symphony Technology Group.

(Note: First Advantage upsized its IPO at pricing on June 22, 2021: 25.5 million shares – up from 21.25 million shares in the prospectus – at $15 – the top of its $13-to-$15 range – to raise $382.5 million.)  

Industry: Services - Business Services
Employees: 4200
Founded: 2019
Contact Information
Address 1 Concourse Parkway NE, Suite 200 Atlanta, Georgia 30328
Phone Number (888) 314-9761
Web Address http://www.fadv.com/
View Prospectus: First Advantage Corp.
Financial Information
Market Cap $2068.5mil
Revenues $509.15 mil (last 12 months)
Net Income $-63.58 mil (last 12 months)
IPO Profile
Symbol FA
Exchange NASDAQ
Shares (millions): 25.5
Price range $15.00 - $15.00
Est. $ Volume $382.5 mil
Manager / Joint Managers Barclays/ BofA Securities/ J.P. Morgan
CO-Managers Citigroup/ Evercore ISI/ Jefferies/ RBC Capital Markets/ Stifel/ HSBC/ Citizens Capital Markets/ KKR/ MUFG/ Loop Capital Markets/ R. Seelaus & Co., LLC/ Ramirez & Co., Inc./ Roberts & Ryan
Expected To Trade: 6/23/2021
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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