Freeths’ London Corporate team advises the shareholders of Vero Screening Limited on sale to Accurate Background
Freeths’ London Corporate team has advised the shareholders of Vero Screening Limited to Accurate Background, the largest privately held provider of compliant background checks, drug and health screening and monitoring solutions in the USA.
Vero is the UK’s leading independent employment screening provider and provides screening services to clients across the financial services, legal, banking and technology sectors amongst others. Vero will continue to operate under its own brand under the leadership of co-founder and CEO Rupert Emson, who will join the executive leadership team of Accurate.
Accurate is a well-placed suitor; a portfolio company of the global private equity firm, Apax, its acquisition of Vero as part of its ongoing expansion plans sees it establish a significant foothold in the EMEA market whilst allowing Vero to provide an even greater client experience and service.
Rupert Emson, CEO of Vero, commented: “We look forward to joining the Accurate family, to advance the screening experience and expand our global footprint.”
The Freeths multi-disciplinary cross-office team was led by London Head of Corporate, Tom Rowley and Managing Associate Naomi Spring (corporate). The team was also comprised of Partners Kevin Poulter (employment), Luke Dixon (data), Director Claire Boyce (tax), Managing Associate Amanda Trewhella (employment), Associate Elliot Ruffle (corporate), Trainee Solicitor Samantha Osborne (corporate) and Legal Assistants Alice Smith and Ben Davis (corporate). The team worked in close collaboration with finnCap Cavendish, financial advisors to Vero, to deliver the transaction. The buyer was advised by Latham & Watkins LLP.
Tom Rowley, Partner and Head of London Corporate at Freeths commented: “Freeths are delighted to have worked with the Vero and finnCap Cavendish teams on this pivotal transaction for Vero. The deal showcases the ability of our cross-office, multi-disciplinary team to efficiently handle complex international corporate transactions whilst providing a distinctively relationship-based service to the client, and a smooth transaction was enjoyed by all. The deal delivers an excellent result for shareholders and places Vero in a great position for exciting future growth.”
Rupert Emson added: “We couldn’t have wished for a better team in Freeths by our side to handle the process. Their respective insights and judgement during the process have been instinctively strong, and always spot-on.”
Vero chairman, Stuart Marshall, commented: “Over and above the skill and tenacity you have brought to bear on this transaction, I would also like to mention how much I enjoyed working with you all.”
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