Latest Hanover Investors News
Dec 1, 2021
Alpharetta, Georgia, UNITED STATES ALPHARETTA, GA., Dec. 01, 2021 (GLOBE NEWSWIRE) -- ClearStar, Inc. ("ClearStar"), a leading provider of Human Capital Integrity℠ technology-based services, specializing in background and medical screening, is pleased to announce it has acquired Employment Screening Resources (ESR), a highly respected background screening firm. This transaction is ClearStar's second acquisition in the past 120 days and is part of an ongoing growth strategy geared towards acquiring and integrating best-in-class capabilities to deliver high-quality, cutting-edge services for new and existing customers. "Orchestrating acquisitions which carefully align with our strategy, exceptionally high service standards, and core values is an integral part of our growth plan. ESR, like ClearStar, has demonstrated a dedication to industry innovation, service excellence, and strict compliance. Both companies are founding members of the NAPBS (now the PBSA) and have partnered to strengthen our industry. This partnership comes full-circle today." said Chad Parodi, Chief Executive Officer of ClearStar. With ESR's base of operations on the West Coast, this acquisition will strengthen ClearStar's ability to operate coast-to-coast, expanding its capacity to continue to deliver high-quality customer service across all 50 states and beyond. Both companies have a very loyal customer base that will benefit from combining ESR's strengths in areas such as real-time compliance with ClearStar's strengths in areas like candidate-friendly mobile solutions. The opportunities to integrate and cross-sell seamless, easy-to-use, next-generation solutions, reflecting the best of both companies, will be a catalyst for growth and a driver of future synergies. Les Rosen, ESR’s founder and CEO, and an industry pioneer commented, "I am absolutely delighted that ESR is joining the ClearStar family. I have collaborated with ClearStar for the past two decades and I am confident that this merger will create immense value for our customers. ESR's service excellence and ClearStar's innovative and scalable technology platform will enable the combined company to deliver unique service offerings to customers." ClearStar's leadership team, and the company's owners, Hanover Investors, view this acquisition as one more step on the journey to scale the business and establish ClearStar as the undisputed solution and service leader, raising the performance bar for the industry. John Woodard, ClearStar’s Chairman and Senior Partner of Hanover Investors commented, “This acquisition of ESR represents another piece of the ClearStar strategy falling into place as we look to catalyze growth and enhance the company’s value.” Mintz served as legal advisor to ClearStar for the transaction and ESR was represented in the sale process by Cherie Smith Homa and received legal advice from Miles & Stockbridge. About ClearStar ClearStar, Inc., a Hanover Investors portfolio company, is a leading provider of Human Capital Integrity™ technology-based services specializing in background and medical screening. It provides employment intelligence directly to employers and via channel partners/consumer reporting agencies ("CRAs") to support better recruitment and other employee-related decisions by increasing information quality, reliability, and visibility. A seven-time Inc. 5000 honoree and founding member of the Professional Background Screening Association, ClearStar has provided innovative technology solutions to businesses in the human capital management industry from its corporate offices in Alpharetta, Georgia, since 1995. For more information about ClearStar, please visit www.clearstar.net. For press inquiries, please contact: Angela Kimbell, Vice President Marketing at email@example.com or (678) 597-9371 Nicolas Dufour, General Counsel at firstname.lastname@example.org or (678) 999-8048 About Hanover Hanover Investors, a specialist investor headquartered in the UK, operates companies with activities across the globe. Hanover combines analytical rigor and flexibility in execution to create a repeatable model of successful investment selection. A deep understanding of a company's operational and strategic context is at the center of the firm's investment process, refined over decades of hands-on management of small to mid-size organizations. Hanover focuses on an investment's main levers of value creation, providing its portfolio with access to proven "playbooks" and a Hanover bench of specialists. This approach has delivered a market-leading record of returns for over 20 years. For more information visit www.hanoverinvestors.com For press inquiries, please contact: Rishi Bhattacharya at email@example.com or +44 (0) 7767654070
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