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Open Online
The Company
OPENonline, LLC (“OPENonline” or the “Company”) is a leading, national web-based background screening provider. OPENonline offers an online employment screening and investigative research tool which provides instantaneous access to a wide array of regional and national public records. The data products offered by the Company are utilized for a variety of purposes, including employment screening, tenant screening, collection verification, among others. Customers include corporations, property managers, government and law enforcement agencies, private investigators and law firms.
“Our experience working with KPMG Corporate Finance has been great. They proved to be extremely knowledgeable about the industry, had contacts with both financial and strategic buyers, and were able to bring these parties to the negotiating table. The senior-level attention that they committed to the transaction provided us with expert advice at every stage.”
The Situation
The majority shareholder determined that OPENonline was not a core business investment and that under new ownership, OPENonline could more effectively capitalize on market opportunities within the background screening sector. The shareholders sought a buyer for the Company that would provide liquidity at a solid valuation and would provide resources to fuel the Company’s growth.
The Solution
KPMG Corporate Finance conducted a competitive process to identify strategic and financial acquirers that would enable the shareholders to exit the business, meet the seller’s desired valuation expectations and position the Company for future growth. KPMG's Corporate Finance developed buyer interest, coordinated management meetings and negotiated a transaction with Sunset Enterprises, LLC. KPMG's Corporate Finance’s knowledge of the industry, relationships with strategic buyers and ability to manage multi-party negotiations were fundamental to the consummation of the transaction.
