The target is an established, 9 year seasoned Employee Screening firm. The Company utilizes advanced software tools and a comprehensive network of resources to investigate key background profiles, such as Criminal Records, Driving Records, Credit Reports, Employment Verification … to name a few. The company has developed Long Term contractual relationships with clients across the Commercial, Healthcare and difficult-to-penetrate Government Sectors and has a 99% customer retention rate!
The firm is an industry leading employment screening company providing customers with the information they need to make smart hiring decisions. The Company has established a complete background screening network of hundreds of individual links to county, state and federal record sources for in-house researchers to search for criminal and other records. It employs a team of contractors to perform record checks through its database of XML links and through its network of contacts in jurisdictions that do not make records available on-line. This is all integrated with a sophisticated software system to provide a seamless experience for the customer. With dozens of government and commercial contracts, this is a turn-key opportunity that is 100% virtual and 100% relocatable.
The companys clients include some of the largest providers of contract security to the United States government. The Companys experience includes screening thousands of security personnel at our countrys most sensitive government buildings and military installations. The business utilizes the most advanced internet-based technologies in order to ensure its reports are delivered accurately and at a competitive price. They have developed specialized programs for screening personnel in contract security, health care, hospitality and gaming facilities.
The Company is on a proven, multi-year growth trajectory, with YTD earnings growth of 23% over the same period last year and TTM earnings through August 2019 of over $163,000.
The Company currently has 7 government contracts and 80 commercial contracts (of which 60 are in elder care) as of 9/15/19. These numbers continue to grow year after year, primarily due to referrals from existing customers. Over the past 12 months approximately 50% of revenue has come from multi-year government contracts while approximately 37% has come from eldercare businesses, with the balance coming from other commercial clients.
As is standard in the industry, commercial clients are on a month-to-month basis. All government contracts are multi-year and have been renewed at every re-compete. The long-term government contracts are by far the most valuable asset of the company. These are difficult to obtain and highly valuable to the buyer of this company.
