SOURCE: Symphony Technology Group

Symphony Technology Group

January 03, 2011 08:00 ET

Symphony Technology Group Finalizes First Advantage Acquisition

PALO ALTO, CA--(Marketwire - January 3, 2011) - Symphony Technology Group (STG), a leading private equity firm focused on investing in software and technology-enabled services companies, today announced it has finalized its acquisition of First Advantage. STG acquired the company from CoreLogic last week for $265M in an all cash transaction. First Advantage is a leading global provider of technology-enabled outsourcing and analytic solutions for the human capital and legal markets.

"For many years, First Advantage has delivered one of the industry's best and most comprehensive suites of HR and legal information and technology-enabled solutions to companies located worldwide," said Bill Chisholm, Managing Director with STG. "Now that the deal has been completed, we look forward to closely partnering with the First Advantage management team to continue to develop and deliver innovative products and services to First Advantage's core customers with even more efficiency and operational excellence."

Tennenbaum Capital Partners provided all of the debt financing. "We are pleased to continue our relationship with STG and to provide financing for First Advantage to continue its growth plans," said Philip Tseng, Managing Director with Tennenbaum Capital Partners.

First Advantage is a leading provider of talent acquisition solutions including employment background screening, occupational health services, applicant tracking systems, recruiting solutions, skills and behavioral assessments, and business tax consulting services. Through its unique combination of technology, data, and analytics, First Advantage provides its clients with a comprehensive suite of products and services designed to facilitate intelligent decision-making.

About Symphony Technology Group
Symphony Technology Group (STG) is a strategic private equity firm with the mission of investing in and building leading software and services companies. In addition to capital, STG provides transformation expertise to enable its companies to deliver maximum value to their clients, to drive growth through innovation, to retain and attract the best talent and to achieve best in class business performance. STG's current portfolio consists of nine global companies. For more information, visit: www.symphonytg.com.

About Tennenbaum Capital Partners, LLC
Tennenbaum Capital Partners™ ("TCP") is a Los Angeles based, multi-strategy alternative investment management firm focused primarily on credit. Since the firm's founding in 1996, TCP has invested approximately $9 billion in over 170 portfolio companies. TCP finds opportunity primarily in middle-market credits where the firm can play a meaningful role in each situation. The firm's investment professionals have extensive expertise in operational, financial and legal disciplines to successfully execute TCP's investment strategies. For more, please visit: www.tennenbaumcapital.com.

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