September 24, 2016 9:58 PM ET

Internet Software and Services

Company Overview of HireRight, Inc.

Company Overview

HireRight, Inc. provides on-demand employment background checks, drug and health screening, and electronic Form I-9 and E-Verify solutions that help employers to automate, manage, and control background screening and related programs. The company offers HireRight Enterprise, an integrated enterprise screening management solution that enables communication and collaboration among various team members, including human resources, recruiting, security, and hiring managers at multiple locations; and HireRight Professional that helps users to identify the right person for each job, and maintain control over the entire background checking and drug testing process through a screening dashboard. It a...

3349 Michelson Drive

Suite 150

Irvine, CA 92612

United States

Founded in 1990

407 Employees

Phone:

949-428-5800

Fax:

877-797-3441

Key Executives for HireRight, Inc.

Chief Executive Officer
Executive Chairman
Age: 62
Chief Financial Officer
Vice President of Operations
Vice President and Deputy General Counsel
Compensation as of Fiscal Year 2016.

HireRight, Inc. Key Developments

HireRight Continues Global Expansion with New Office in Dubai

HireRight announced the next step in its continued global expansion with the opening of a new office in Dubai. The new regional hub will enable HireRight to better serve its global customer base while also satisfying the demand for global background verification products in the expanding Middle Eastern market. With its new office in Dubai, and an established presence in the oil and gas, technology and financial services industries, HireRight will extend its ability to offer leading pre-employment background verification services to employers throughout the region and beyond. Due to the rapid growth of its client base in the Middle East, HireRight will use the office as a base for regional operations and continue to build partnerships in the Middle East.

NES Rentals Improves Background Check Turnaround Time with HireRight's Integrated Solution

HireRight announced that its client, NES Rentals, improved screening turnaround time by 180% by integrating its background checks with SilkRoad Recruiting. The HireRight integration with SilkRoad has enabled to reduce time-to-hire, while improving overall hiring processes for candidates, hiring managers, and recruiters. HireRight was also able to provide a drastic improvement to customer service to ensure NES Rentals was receiving the level of support it needed.

Joint Reorganization Plan Approved for Altegrity, Inc.

The US Bankruptcy Court approved the joint plan of reorganization of Altegrity, Inc. on August 14, 2015. The debtor had filed its plan in the Court on March 30, 2015. As per the amended plan, allowed administrative claims, statutory fees of U.S. Trustee, Priority Wage Claims, professional compensation, priority tax claims and reorganizing debtors other priority claims shall be paid in full in cash. Liquidating debtors other priority claims shall receive their pro rata share of distributions in accordance with the payment waterfall. DIP Claims of $90 million shall be paid in cash in full and final satisfaction of the total claim. Secured second lien notes claims shall receive 96.91% of the debtor’s equity along with a pro rata share of the collateral proceeds and secured third lien notes of $5.07 million claims shall receive 1.98% of the debtor’s equity along with a pro rata share of the collateral proceeds. First lien notes claims of $825 million and first lien credit agreement claims shall be reinstated and lien claims shall be paid in full in cash. Liquidating debtors unsecured claims shall receive pro rata share of distributions of proceeds of collateral while reorganizing debtors unsecured claims shall receive pro rata share of the warrants. Operating Debtors Unsecured Notes Claims of $53 million having recovery of 5.4%, will get pro-rata share of new common stock pool of 1.11%. Another new class of Operating Debtors General Unsecured Claims of $10.50 million having recovery of 11.9%, will get pro-rata share of $1.25 million in cash. Second Lien Notes Deficiency Claims of $270.92 will be cancelled. Altegrity, Inc. junior subordinated notes claims shall be cancelled. Reorganizing debtors intercompany claims shall be reinstated. Interests in Altegrity Holding Corp. shall be cancelled while interests in the subsidiary debtors that are reorganizing debtors and interests in the liquidating debtors shall be reinstated. The plan shall be funded cash debtor’s cash in hand, sale of assets, new revolving credit facility and through issuance of new common stock.

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