Veritas deal hones in on security clearances
By
Nick Wakeman
Veritas Capital buys a unit of Kroll Inc. to build a company focused on security-clearance investigations and employment screening services. By Nick Wakeman
Veritas Capital continues to puts its investment dollars into the government market by acquiring a business unit of Kroll Inc.
Newly named KeyPoint Government Solutions Inc., the business joins other Veritas Capital investments such as Vangent Inc., DynCorp,, McNeil Technologies and CRGT Inc.
KeyPoint will focus on security-clearance background investigations and employment screening services to U.S. government agencies. Its customers include the Office of Personnel Management, the Homeland Security Department, the Transportation Security Administration, Customs and Border Protection, Immigration and Customs Enforcement, Citizenship and Immigration Services, the Justice Department, the Coast Guard, the Army National Guard and the Los Angeles Police Department.
Terms of the acquisition were not disclosed.
“The acquisition of KeyPoint Government Solutions is consistent with our strategy of investing in strong companies that perform mission critical functions for the U.S. government,” Veritas Capital Founder and Chairman Robert McKeon, said in a statement.
Jeff Schlanger, president of the unit under Kroll, will continue to head the new company.
Other private equity backed deals in the past week include the acquisition of Wyle Holdings Inc. by Court Square Capital Partners and A-T Solutions acquisition of Accelligence LLC. A-T is backed by the private equity group CoVant Technologies.