Stone Point, General Atlantic propose to buy remaining stake in HireRight

(Reuters) – Stone Point Capital and General Atlantic proposed to buy the shares the investment firms do not already own in employee-screening company HireRight Holdings, according to a regulatory filing on Friday.

The proposed transaction is for a price per share equal to $12.75 in cash, a near 3% discount to HireRight’s last closing price.

Stone Point and General Atlantic are HireRight’s largest shareholders with a combined 74.8% of its stock, according to data from LSEG.

HireRight did not immediately respond to a Reuters request for comment.

HireRight provides services to enterprises such as criminal and financial background screening for new and potential employees.

HireRight’s third-quarter revenue declined nearly 11% to $188.3 million from a year earlier, the company said in November.

(Reporting by Arsheeya Bajwa in Bengaluru; Editing by Maju Samuel)