Providence Equity acquiring USIS for $1.5B

FALLS CHURCH, Va. – USIS, a federal security investigator and staffing service and a provider of pre-employment and screening services, has agreed to be acquired by Providence Equity Partners Inc. for about $1.5 billion.
“This is a natural step forward for USIS at this time in our history,” CEO Randy E. Dobbs said in a statement Friday. “This acquisition represents an opportunity for USIS to grow our current businesses and look for potential opportunities that broaden our services into other areas of the overall screening and security markets.”
USIS is currently owned by Welsh, Carson, Anderson & Stowe and The Carlyle Group.
“Since its formation in 1996, USIS has strived to offer great service to the United States government as the leading provider of federal background investigations,” said Julie Richardson, a managing director at Providence Equity. “Under Randy’s leadership, USIS has strengthened its field operations and improved efficiencies in its core government businesses, as well as expanded further into the commercial arena. We look forward to partnering with Randy and his team to support the company’s growth.”
The transaction is expected to close in the third quarter, subject to regulatory approvals and other customary conditions.
Providence Equity Partners Inc. is a $21 billion global private investment firm specializing in media and entertainment, communications and information companies. Additional information is available at www.provequity.com.
USIS founded in 1996, is a provider of pre-employment and screening services to corporate and government clients. To learn more, visit www.usis.com.