First Advantage Corporation Acquires Proudfoot Reports Incorporated
January 15, 2004
ST. PETERSBURG, Fla., /PRNewswire-FirstCall/ -- First Advantage Corporation (Nasdaq: FADV) has acquired Proudfoot Reports Incorporated, a wholly owned subsidiary of Aon Corporation. In connection with the transaction, First Advantage will be Aon's preferred provider of background screening services for their U.S. clientele. Terms of the transaction were not disclosed.
Proudfoot Reports, an Aon company since Aon's acquisition of ASI Solutions Incorporated, is the oldest established employment screening company in the nation. Founded in 1900, Proudfoot combines more than 100 years of reputable experience with skilled professionals, innovative technology and refined quality processes, creating one of the most recognized and respected brands in the screening industry. Proudfoot is also one of the few screening companies that holds the prestigious ISO 9000 certification, an international standard for quality management systems. The Melville, NY-based company provides pre-employment background screening services, including criminal record searches, employment verification, education verification, credit reports and motor vehicle records, to some of the nation's most recognized employers.
"It is satisfying that we are initiating our 2004 screening division acquisition activities with the addition of Proudfoot -- the most significant employment screening purchase First Advantage has completed to date," said John Long, chief executive officer and president of First Advantage Corporation. "Through this admired company, we have extended our reach into the Fortune 500 and created great prospects to cross-sell other screening and risk mitigation services. By leveraging existing operations, we continue to execute our strategy of building scale for overall margin gains. We are also very proud to build a relationship with Aon, one of the most respected members of the Fortune 500."
Donald C. Ingram, chairman and chief executive officer, Aon Consulting Worldwide said: "We view this transaction as an opportunity for Aon to work with a leader in the background screening industry, while continuing to provide our customers with the highest level of service. Through this relationship with First Advantage, Aon will be able to offer our customers background screening products, substance abuse testing and other occupational health services, as well as investigative services."
Soure: First Advantage Corporation