First Advantage has been named the “Best Overall Tenant Screening Service” by the U.S. News & World Report.

The U.S. News 360 Reviews team collaborated with several experts, and conducted extensive research, evaluating factors such as pricing options, available screening services, types of background checks provided, integration capabilities, timeline for the screening process, payment options, customer support availability, and the reputation of each company.

First Advantage was recognized for its updated proprietary databases, ability to select credit reports from major bureaus, and access to utility debt histories. 

Landlords and property managers rely on tenant screening services to assess potential tenants before renting out property. These services provide insights into applicants’ rental history, credit report, income, and criminal background, aiding in informed decision-making. Adhering to the Fair Credit Reporting Act (FCRA) is crucial due to the sensitive nature of the data involved. Investing in reputable screening services is important to navigate the complexities of compliance effectively.  

Learn more about First Advantage tenant background check services.  

First Advantage is proud to announce the Company was named the winner of a Silver Stevie® Award in the Achievement in Diversity & Inclusion category in the 22nd Annual American Business Awards®. 

The American Business Awards are the U.S.A.’s premier business awards program. All organizations operating in the U.S.A. are eligible to submit nominations – public and private, for-profit and non-profit, large and small. Nicknamed the Stevies for the Greek word meaning “crowned,” the awards will be presented to winners at a gala ceremony at the Marriott Marquis Hotel in New York on Tuesday, June 11.  

More than 3,700 nominations from organizations of all sizes and in virtually every industry were submitted this year for consideration in a wide range of categories, First Advantage was nominated in the Achievement in Diversity & Inclusion category.  

Fostering a Global Inclusive Workforce Devoted to Diverse Voices 

Operating with empathy and compassion, First Advantage fosters a global inclusive workforce devoted to the diverse voices that make up its talent and products. Through a shared commitment to Diversity, Equity, and Inclusion (DE&I), First Advantage team members empower each other to be their authentic selves and treat all with respect, integrity, and fairness.  

Beginning in 2020, a dedicated group of team members from various locations worldwide united to establish the First Advantage DE&I Committee. The cross-functional, DE&I Committee leverages external expertise to identify and implement communication, education, recruitment, and retention to help make DE&I a central and lasting part of the First Advantage daily culture. 

“We are truly honored to receive the Silver Stevie® Award for Achievement in Diversity & Inclusion. This recognition underscores our unwavering commitment to fostering an inclusive culture where diversity is not just celebrated but is integral to our success. We believe in the power of diverse voices and the profound impact they have on our innovation and growth” Debbie Masak, CRP, Vice President, Global Talent & Inclusion at First Advantage said.  

Since the creation of the DE&I Committee in 2020, First Advantage has created a culture with a strong sense of belonging and inclusivity. First Advantage leaders participate in DE&I training focusing on inclusion and overcoming unconscious bias and Employee Resource Group (ERG) events, and many executives sponsor the ERGs. Since 2021, First Advantage has invited employees from seven countries (U.S., Canada, UK, India, New Zealand, Australia, Philippines) to participate in a DE&I survey. In the 2023 DE&I Survey, team members in all regions reported a favorable sense of psychological safety, belonging and inclusion, and equity and fairness. 

More than 300 professionals worldwide participated in the judging process to select this year’s Stevie Award winners. Details about The American Business Awards and the list of 2024 Stevie winners are available at www.StevieAwards.com/ABA.     

The Stevie Awards for Sales & Customer Service are the world’s top honors for customer service, contact center, business development and sales professionals. The Stevie Awards organizes nine of the world’s leading business awards programs, also including the prestigious American Business Awards® and International Business Awards®. Winners were announced during a gala event attended by more than 400 professionals from around the world at the Bellagio in Las Vegas, Nevada on Friday, April 12.

“Every customer is important and every interaction our Customer Care team has with our clients reflects that. Our purpose is to deliver amazing customer service and to grow and cultivate our community of raving fans. We accomplish this with an outside-in approach where customers are at the heart of everything we do.” Victor Sachs, SVP, Customer Service and Digital Transformation said. “I am proud of our remarkable global Customer Care team members who continue to make our customers their number one priority each day!”

Customer Experience as a Differentiator

For many customer-centric organizations, the customer experience drives retention and brand loyalty. In a recent PwC survey, one in three consumers (32%) say they will walk away from a brand they love after just one bad experience. The survey, consisting of 15,000 people from 12 countries, also highlighted pillars such as speed, convenience, helpful employees, and friendly service as factors that matter most, with each hitting over 70% in importance to consumers.

Recognizing these priorities early on, First Advantage’s Customer Care organization has been on a transformation journey over the past three years to better serve customers across the globe. From implementing a global state-of-the-art cloud-based telephony system enabling self-service and seamless routing for a better customer and agent experience to launching a new service model, ‘Click. Chat. Call’ to deliver easy and expert service — the award-winning team has focused on operational excellence and automation leveraging AI solutions for efficiency and increased customer satisfaction.

“To deliver the best customer experience for our clients, our Customer Care organization is prioritizing cutting edge technology and platforms to ensure speedy and friendly service in every interaction with our clients,” Sachs said. “And with our service model, Click, Chat, Call – our customers have even more avenues to connect with us and receive the quality and friendly support they deserve and have come to expect from us at First Advantage.”

More than 2,300 nominations from organizations of all sizes and in virtually every industry, in 44 nations and territories, were considered in this year’s Stevie Awards for Sales & Customer Service competition. Winners were determined by the average scores of more than 200 professionals worldwide on seven specialized judging committees.

“The high scores given the winning nominations in this year’s competition are evidence of the high levels of achievement portrayed in them,” said Stevie Awards president Maggie Miller. “We join with the judges and all members of the Stevie Awards community in congratulating and celebrating the winners for their accomplishments.”

This is the second year in a row First Advantage’s Customer Care organization has received this recognition. In 2023, the team received a Gold Stevie® Award for Front-Line Customer Service Team of the Year – Technology Industries category and a Bronze Stevie® Award for Achievement in Customer Experience in the 17th annual Stevie Awards for Sales & Customer Service.

]]> https://fadv.com/apac/ko/news/first-advantage-releases-2024-global-trends-report/ Tue, 23 Apr 2024 13:45:55 +0000 https://fadv.com/?p=5689 ATLANTA, April 23, 2024 (GLOBE NEWSWIRE) — First Advantage Corporation (NASDAQ:FA), a leading provider of employment background screening, identity and verification solutions, today shared findings from its 2024 Global Trends Report. The latest edition of the proprietary research is the Company’s most comprehensive yet, offering a worldwide perspective based on over 100 million anonymized screening data records and hundreds of survey responses from First Advantage customers.

The interactive report highlights background screening trends across the United States, Canada, Latin America and the Caribbean, Europe, the Middle East and Africa, India, and Asia-Pacific. In the United States, for example, First Advantage found that employers have concentrated efforts on three key factors when designing background screening programs: compliance and risk, candidate experience and cost efficiency.

The research can also be viewed from a vertical perspective, including Healthcare, Financial Services & Technology, Aerospace & Defense, Trucking & Transportation, Restaurants & Hospitality, Retail, Business Services, Manufacturing, Staffing, Business Process Outsourcing & Call Centers. This portion of the report analyzes each industry at a glance, showcasing average case turnaround times, average criminal report record rates and HR’s focus for 2024. For example, while Restaurants & Hospitality is hard at work on recruitment and retention, Business Services is looking at benefits, compliance and reducing time to hire.

“Since First Advantage launched this research six years ago, we have seen trends change and evolve alongside the global labor market,” said CEO Scott Staples. “Notably, in 2024, for the second year in a row, managing risk ranked as the most important factor in background screening programs – over cost and speed. This indicates an increased interest in background screening results that support informed decision-making as part of the overall hiring process.”

For a copy of the First Advantage 2024 Global Trends Report, visit https://fadv.com/2024trends/.

First Advantage will also spotlight the research in an upcoming webinar, “2024 Global Screening Trends Unveiled,” on June 6, 2024, at 11:00 AM ET. Registration for this event is available here.

About First Advantage
First Advantage (NASDAQ:FA) is a leading provider of employment background screening, identity and verification solutions. First Advantage delivers innovative services and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology, First Advantage helps companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants and drivers. Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of more than 30,000 customers. For more information about First Advantage, visit its website at

Deborah (Debbie) Masak, CRP, Vice President, Global Talent & Inclusion, will moderate a panel during the upcoming

In fact, the session will center around the book that features the SOAR Program. In 2021, SOAR was selected as a Best Impact/ROI Study Award Business recipient. A few years later, Patti Phillips, President and CEO, and Jack Phillips, Chairman of the ROI Institute reached out to Masak and asked if she would participate in this panel at what is described as the largest conference in the world for the Learning & Development profession.  

“I’m most excited about sharing the phenomenal impact our SOAR program has had on our company and our people. The fact our capstone project places the spotlight on the employees’ work and its financial impact is something we are all particularly proud of,” Masak said. “But beyond the business benefits, I’m thrilled to showcase how the program has shaped participants into more impactful leaders. It’s not just about the numbers; it’s about the personal growth and development that we’ve nurtured.” 

According to Masak, SOAR was created to address a critical business need and increase employee engagement at the company. The result was the development of a pilot program that launched in 2019 to empower managers and build leaders. When the pandemic started the following year, the company pivoted to a virtual environment which allowed for a more inclusive and collaborative employee experience for participants around the world. The program was also enhanced to include diversity, equity and inclusion components and a capstone project.  

SOAR 2.0 launched in 2021, the same year it was recognized by the ROI Institute, as a fully virtual program. Masak says the program is complete with a detailed data collection plan, otherwise known as “design thinking,” spanning five comprehensive phases and includes instruction from more than 27 certified facilitators globally. Equally impressive is the level of impact generated from the program – to date, 400+ people managers have taken part in SOAR and employee engagement scores are skewing higher. Masak attributes this to SOAR and how it is becoming more than a program at First Advantage. She considers it a core part of the company culture that is continually shaping resilient, adaptable and effective leaders.  

“Adding to the success of SOAR is the fact that our global employee engagement favorability scores have seen year-over-year improvement for the last seven years,” Masak said. “This is a direct reflection of our commitment to making our company not just a workplace, but a ‘best place to work.’ SOAR has played a significant role in this achievement, resonating with our employees and manifesting in our sustained engagement scores.” 

Masak joined First Advantage in November 2015 and has held several roles within the organization, spanning from Sales to the Human Resources (HR) department. Since joining the Talent industry, she has developed a profound appreciation for the tangible impact she can make on people’s lives. Knowing that the programs she crafts and builds help others excel in their jobs so they can grow in their careers and, in turn, support their families, means the world to her.  

“Crafting these initiatives with careful attention to the unique qualities of each individual, while ensuring inclusivity for all learning types, gives the work a philanthropic feel,” Masak said. “Moreover, collaborating with a team that shares my passion and values adds a profound sense of fulfillment to my professional life.”  

To learn more about Debbie’s upcoming session and her fellow panelists, visit the conference website.  

In his session, “Troublemakers Can Be a Source of Hidden Leaders,” Pilnick will show how smart organizations have adopted a new concept of leadership that unites naturally oriented informal leaders with their counterparts, appointed or formal leaders. Attendees will learn how the resulting partnership of informal and formal leaders works to link an organization’s two major power bases to improve performance and achieve business goals.

The conference will be held at the Caesars Palace Las Vegas Hotel & Casino and will take place April 14 – 17, 2024. Pilnick is scheduled to speak on Tuesday, April 16, at 1:30 p.m. PT.

To learn more about the SHRM Talent Conference & Expo, visit https://conferences.shrm.org/talent-conference.

First Advantage Corporation (NASDAQ: FA), a leading provider of employment background screening, identity, and verification solutions, today announced the availability of its next-gen RightID identity fraud solution for U.S. employers, building on the success seen in expanding its digital identity solutions internationally in countries such as the U.K., India, Australia, and Canada. Designed to flag inconsistencies in a job applicant’s identity, RightID leverages responsible generative AI and machine learning to help recognize potential errors in identity information submitted, or even potentially fraudulent or false identity information, when intaking new applicants in real-time. Integrated with First Advantage’s Profile Advantage® applicant platform, RightID combines multiple levels of dynamic technology to seamlessly discover inconsistencies in applicant-provided information, mitigate risks in the pre-hire process, and deliver a convenient, secure identity fraud solution to a growing problem.

With industry research indicating a sharp uptick in applicant fraud and stark warnings from the FBI about the use of deep fakes, employers have started to recognize emerging identity fraud concerns and the importance of fraud mitigation solutions. Employing fraudulent applicants could result in creating significant reputational distrust and potential safety concerns for employees and customers while increasing overall onboarding costs. RightID’s liveness detection and document validation technologies, combined with knowledge-based techniques, identify potential counterfeits and possible deep fake efforts to help create a robust defense against identity fraud.

Operating in real-time, RightID sends alerts to customers instantly before the formal background check takes place. With the comprehensive RightID solution built into existing integration workflows, employers benefit from finding potential identity fraud or likely errors in applicant data entry while keeping the hiring process fast and easy.

Joelle Smith, President, Data, Technology, and Experience for First Advantage, shared, “In today’s dynamic hiring landscape, fraudulent activities are on the rise, as are the costs of recruiting and making the wrong hire. With many organizations across industries continuing to rely on remote talent acquisition methods, it is more important than ever to create a practice of efficiently flagging inconsistencies and recognizing potential errors in identity information of applicants to stop fraud before it results in a mis-hire. RightID offers that solution earlier in the process, without adding friction to the overall applicant experience.”

For more information about RightID for identity fraud, visit https://fadv.com/solutions/rightid.

Hear from First Advantage experts Irina Kovach, Senior Vice President and Mike Cook, Vice President of Product Management, as they discuss the challenges and present the latest options available to help HR teams “Foil the Fakes in Today’s Virtual Job Applicant World” in a Webinar on March 28, 2024 at 01:00 PM ET.

About First Advantage
First Advantage (NASDAQ:FA) is a leading provider of employment background screening, identity, and verification solutions. First Advantage delivers innovative services and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology, First Advantage helps companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants, and drivers. Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of more than 30,000 customers. For more information about First Advantage, visit its website at https://fadv.com.

• Enables increased investment in Artificial Intelligence and next-generation Digital Identification technologies for enhanced customer and applicant experience

• Drives attractive total shareholder return outlook, including at least $50 million of synergies, implying expected double-digit Adjusted EPS accretion immediately on a run-rate synergy basis and accelerated earnings growth potential from topline development, synergies, and deleveraging

ATLANTA, Georgia and INDEPENDENCE, Ohio, February 29, 2024 – First Advantage Corporation (NASDAQ:FA), a leading provider of employment background screening, identity, and verification solutions, announced today that it has entered into a definitive purchase agreement to acquire Sterling Check Corp. (NASDAQ:STER), a provider of background screening and identity services. First Advantage will issue a combination of cash and stock valuing Sterling at approximately $2.2 billion, including Sterling’s outstanding debt.

First Advantage and Sterling offer complementary technology solutions and services that enable employers across healthcare, retail & e-commerce, transportation, manufacturing, financial services, and other industries to manage risk and hire the best talent. Customers will benefit from accelerated investment in innovation and access to a broader suite of products and solutions to meet their needs, fueling growth of the combined company.

Building on pro forma combined revenue of $1.5 billion for the year ended December 31, 2023, the transaction is expected to deliver at least $50 million in run-rate synergies, implying immediate double-digit EPS accretion on a run-rate synergy basis. The combined company will have greater diversification of revenue across customer segments, industries, and geographies, reducing seasonality and improving resource planning and operational efficiency.

Following the transaction, we expect First Advantage to continue compounding EPS at a teens growth rate over time through a combination of topline growth, ongoing synergy capture, and significant deleveraging via strong organic free cash flow generation. First Advantage will share additional forward-looking financial information regarding the transaction’s impact at or around the time of closing.

“We are thrilled to announce the acquisition of Sterling, demonstrating our commitment to delivering high-quality, cost-effective employment background screening and identity verification solutions that enhance value for customers by helping them hire smarter and onboard faster, while also positioning First Advantage for long-term value creation,” said Scott Staples, Chief Executive Officer of First Advantage. “This combination unlocks efficiencies and opportunities to fuel incremental growth and invest in new technology solutions, including AI-driven automation, while further diversifying our business for greater resilience. We look forward to welcoming Sterling’s talented employees to First Advantage and implementing best practices from both organizations to better address the needs of applicants and employers of all sizes and across all verticals.”

“We are excited to be combining with First Advantage to accelerate Sterling’s strategic goals and deliver added value for our company, shareholders, clients, and employees,” said Josh Peirez, Chief Executive Officer of Sterling. “We look forward to offering clients a broader suite of solutions, while maintaining the excellent service they have come to expect. Importantly, this transaction delivers immediate value to Sterling shareholders, as well as the opportunity to participate in the compelling, long-term upside potential of a combined company that is positioned better than ever to serve the dynamic needs of our customers.”

Certain entities advised by or affiliated with Goldman Sachs & Co. LLC., which own approximately 52.8% of Sterling’s outstanding shares, entered into a support agreement pursuant to which they have delivered a written consent approving the transaction. CDPQ is an investor in one of these entities.

“Goldman Sachs and CDPQ are very pleased with Sterling’s performance over the last eight years. Josh has been an outstanding leader and partner, growing the business, and successfully bringing the company to the public markets.  We are excited by the transformational opportunity offered by combining with First Advantage,” said Adrian Jones, Global Chairman & Co-Head of the Private Equity business within Goldman Sachs Asset Management.

Following the closing of the transaction, Scott Staples will continue to serve as Chief Executive Officer of First Advantage. Josh Peirez, Sterling’s Chief Executive Officer, will be offered a seat on the First Advantage Board of Directors. First Advantage will continue to be headquartered in Atlanta, GA.

Transaction Details

The transaction consideration is comprised of approximately $1.2 billion in cash and 27.15 million shares of First Advantage common stock. Under the terms of the agreement, Sterling shareholders will elect to receive either $16.73 in cash or 0.979 shares of First Advantage common stock for each Sterling share. The shareholder election will be subject to proration, resulting in approximately 72% of Sterling’s shares being exchanged for cash consideration and 28% being exchanged for First Advantage common stock.  The $16.73 per share consideration represents a premium of 35% to Sterling’s closing price of $12.42 on February 28, 2024, and a 26% premium to Sterling’s 30-day volume weighted average price (VWAP).  Sterling shareholders are expected to own approximately 16% of the combined company after closing, and current First Advantage shareholders will own approximately 84%.

First Advantage intends to fund the cash portion of the transaction and retire existing Sterling debt through the issuance of $1.8 billion of new debt and the use of balance sheet cash. First Advantage has secured fully committed financing from Bank of America, N.A., Barclays Bank PLC, Bank of Montreal, Jefferies Finance LLC and Royal Bank of Canada.

The transaction has been unanimously approved by the Boards of Directors of both companies.

The transaction is expected to close in approximately the third quarter of 2024, with the closing and timing thereof subject to required regulatory approvals, clearances, and other customary closing conditions.

Advisors

J.P. Morgan Securities LLC acted as lead financial advisor to First Advantage. BofA Securities, Inc., Barclays Bank PLC, BMO Capital Markets Corp., Jefferies Finance LLC and RBC Capital Markets also served as financial advisors to First Advantage. Simpson Thacher & Bartlett LLP served as First Advantage’s legal counsel in the transaction.

Goldman Sachs & Co. LLC and Citigroup Global Markets Inc. acted as financial advisors to Sterling. Fried, Frank, Harris, Shriver & Jacobson LLP served as Sterling’s legal counsel in the transaction. 

Conference Call and Webcast Information

First Advantage will host a conference call to review its fourth quarter and full year 2023 results and discuss details of the Sterling acquisition today, February 29, 2024, at 8:30 a.m. ET.

The call will be webcast live on the Company’s investor relations website at https://investors.fadv.com under the “News & Events” and “Events & Presentations” sections, where related presentation materials will be posted before the conference call.

Following the conference call, a replay of the webcast will be available on the Company’s investor relations website, https://investors.fadv.com. Alternatively, the live webcast and subsequent replay will be available at https://event.on24.com/wcc/r/4450900/D4362414C8BAE251D42253413CDB11CB.

About First Advantage

First Advantage (NASDAQ:FA) is a leading provider of employment background screening, identity, and verification solutions. First Advantage delivers innovative services and insights that help customers manage risk and hire the best talent. Enabled by its proprietary technology, First Advantage helps companies protect their brands and provide safer environments for their customers and their most important resources: employees, contractors, contingent workers, tenants, and drivers. Headquartered in Atlanta, Georgia, First Advantage performs screens in over 200 countries and territories on behalf of more than 30,000 customers. For more information about First Advantage, visit its website at https://fadv.com/.

About Sterling Check Corp.

Sterling (NASDAQ:STER) is a leading provider of background and identity services, helping over 50,000 clients create people-first cultures built on a foundation of trust and safety. Sterling’s tech-enabled services help organizations across all industries and regions establish great environments for their workers, partners, and customers. With operations in North America, Europe, the Middle East, Asia Pacific, and Latin America, Sterling conducts more than 100 million annual searches. For more information about Sterling, visit its website at https://www.sterlingcheck.com/.

No Offer or Solicitation

This communication is for informational purposes only and is not intended to and does not constitute, or form a part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities, or a solicitation of any vote or approval in any jurisdiction, pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in which such sale, issuance or transfer of securities would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information about the Merger and Where to Find It

In connection with the proposed transaction, First Advantage Corporation (“First Advantage”) intends to file with the SEC a registration statement on Form S-4 that will include an information statement of Sterling Check Corp. (“Sterling”) and that also constitutes a prospectus of First Advantage. Each of First Advantage and Sterling may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the information statement/prospectus or registration statement or any other document that First Advantage or Sterling may file with the SEC. The information statement/prospectus (if and when available) will be mailed to stockholders of First Advantage and Sterling. INVESTORS AND SECURITY HOLDERS OF FIRST ADVANTAGE AND STERLING ARE URGED TO READ THE REGISTRATION STATEMENT, INFORMATION STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and security holders will be able to obtain free copies of the registration statement and information statement/prospectus (if and when available) and other documents containing important information about First Advantage, Sterling and the proposed transaction, once such documents are filed with the SEC through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by First Advantage will be available free of charge on First Advantage’s website at https://fadv.com/ or by contacting First Advantage’s Investor Relations department at investors@fadv.com. Copies of the documents filed with the SEC by Sterling will be available free of charge on Sterling’s website at https://www.sterlingcheck.com/ or by contacting Sterling’s Investor Relations department at IR@sterlingcheck.com.

Forward-Looking Statements

This release and any documents referred to in this release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and it is intended that all forward-looking statements that Sterling or First Advantage make will be subject to the safe harbor protections created thereby. Forward-looking statements can be identified by forward-looking terminology such as “aim,” “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “projection,” “seek,” “should,” “will” or “would,” or the negative thereof or other variations thereon or comparable terminology. In particular, statements that address Sterling’s and First Advantage’s future performance, business strategy, future operations, estimates and projections of revenues, losses, costs, expenses, returns, cash flow, and financial position, anticipated benefits of strategic transactions (including acquisitions and divestitures), and plans and objectives of management (including plans for future cash flow from operations), contained in this release or any documents referred to herein are forward-looking statements. These statements also include, but are not limited to, statements regarding the expected benefits of the proposed transaction to Sterling and First Advantage and each of their stockholders and the anticipated timing thereof. Sterling and First Advantage have based these forward-looking statements on current expectations, assumptions, estimates and projections. Such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond Sterling and First Advantage’s control. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including but not limited to: (i) the risk that the proposed transaction may not be completed in a timely manner or at all, (ii) the failure to satisfy the conditions to the consummation of the proposed transaction, including the receipt of certain governmental and regulatory approvals, (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (iv) the effect of the announcement or pendency of the proposed transaction on Sterling’s business relationships, operating results, and business generally, (v) risks that the proposed transaction disrupts current plans and operations of Sterling or First Advantage and potential difficulties in Sterling employee retention as a result of the proposed transaction, (vi) risks related to diverting management’s attention from Sterling’s ongoing business operations, (vii) unexpected costs, charges or expenses resulting from the proposed transaction, (viii) certain restrictions during the pendency of the proposed transaction that may impact Sterling’s ability to pursue certain business opportunities or strategic transactions and (ix) the outcome of any legal proceedings that may be instituted against First Advantage or against Sterling related to the Merger Agreement or the proposed transaction. These and other important factors, including those discussed more fully elsewhere in this release and in Sterling and First Advantage’s filings with the SEC, including their respective Forms 10-K, 10-Q and 8-K, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements contained in this release are not guarantees of future performance and actual results of operations, financial condition, and liquidity, and the development of the industry in which each of Sterling and First Advantage operates, may differ materially from the forward-looking statements contained in this release. Any forward-looking statement made in this release speaks only as of the date of such statement. Except as required by law, neither Sterling nor First Advantage undertakes any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this release.

First Advantage Contacts

Investors:
Stephanie Gorman
Investors@fadv.com

Media:
Liz Zale / Lindsay Molk
FGS Global
FirstAdvantage@fgsglobal.com

Sterling Check Corp. Contacts

Investors:
Judah Sokel
IR@sterlingcheck.com

Media:
Angela Stelle
Angela.Stelle@sterlingcheck.com

1. Performed remote examination of an employee’s documents between March 20, 2020, and July 31, 2023.
2. Been enrolled in E-Verify at the time they completed the Form I-9 for that employee.
3. Created a case in E-Verify for that employee (except for re-verification).
4. Be currently enrolled in and continue to participate in E-Verify.

Employers who did not meet all four of these requirements had to perform an in-person examination of documents by August 30, 2023. No surprise, the changes prompted a slew of questions from employers as organizations braced for the impact of the new Form I-9. Even now, well passed the initial enactment and deadlines associated with the refresh, employers continue to navigate what the current process means for their businesses and the best ways to maintain compliance.

Given the nuance associated with the new Form I-9, employers need to know not only what their options are but also what the audit risk looks like and how best to avoid common mistakes.

To learn more about the new Form I-9 and get answers to real questions, join First Advantage’s resident expert, Thomas Brechtel, on Tuesday, February 27, at 1 p.m. ET. Additional information and registration details are available here.