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“Generation’s
advice and guidance have been invaluable. Aligning
yourself with a group that has experience in
everything you are about to face, adds incredible
value.”
Bill Greenblatt,
CEO
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 Case Studies
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Background
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Founded in 1975 by CEO Bill Greenblatt, Sterling
Infosystems is a leading information services company
focused on the pre-employment screening market.
Sterling’s services enable clients to screen
potential hires for undisclosed risk factors such
as prior criminal activity, drug use and/or falsified
credentials. The US market for background screening
is estimated to be over $1 billion and is growing
at 15% per year driven by the proven benefits of
a low turnover - high quality workforce, increased
security concerns and increased awareness of potential
litigation from negligent hiring.
The Company is headquartered in New York City and
services over 3,000 customers across a wide range
of industries including: healthcare, retail, manufacturing,
financial services, telecommunications and technology.
Notable customers include: Chrysler, Mastercard,
Visa, Staples, Macy’s, Time Warner Cable,
Con Edison, Cigna, Mass Mutual, Nordstrom’s,
Moody’s, Barclays, Colgate-Palmolive, Eastman
Kodak, Virgin Atlantic, Harvard University, New
York University, Nikon, Canon, Memorial Sloan Kettering,
Comcast, Sullivan & Cromwell and Milbank Tweed.
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Generation’s Involvement
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As Sterling
grew larger, the Company recognized the need for strategic
guidance to accelerate growth and solidify its market
position. In April 2003, Generation purchased a minority
interest in the Company joined Sterling’s Board
of Directors. Given Sterling’s technology platform,
experienced management team, strong customer base,
and emphasis on quality, Generation believed that
Sterling was an ideal company to partner with in this
industry. With Generation’s capital and guidance,
Sterling accelerated hiring and technology development,
expanded its sales force and management team, developed
strong metric-driven management tools, and pursued
numerous acquisition targets. Generation worked with
Bill Greenblatt and his team to develop and implement
financial, operational, and technical processes to
help Sterling grow to the next level.
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Outcome
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Since the Generation investment, Sterling
has become the fastest growing company
in the industry with revenue growth of over 50% annually
for the past four years. We continue to be actively
involved with Sterling and believe the Company is well-positioned
to become one of our most successful investments.
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