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Silver Lake-backed HR platform provider First Advantage files for a $100 million IPO

May 28, 2021

First Advantage, which provides technology solutions for human capital management, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

First Advantage is a leading global provider of technology solutions for screening, verifications, safety, and compliance related to human capital. Its comprehensive product suite includes Criminal Background Checks, Drug/Health Screening, and Extended Workforce Screening, among other features. The company derives a substantial majority of its revenues from pre-onboarding screening, performing over 75 million screens on behalf of more than 30,000 customers in 2020.

First Advantage was bought by private equity firm Silver Lake in 2019.

The Atlanta, GA-based company was founded in 2003 and booked $530 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol FA. Barclays, BofA Securities, J.P. Morgan, Citi, Evercore ISI, Jefferies, RBC Capital Markets, Stifel, and HSBC are the joint bookrunners on the deal. No pricing terms were disclosed.