Kroll, the world famous background checking and Security Service has been sold just six years after insurance giant, Marsh & McLennan, bought the company from its original owner, Jules Kroll. According to the Telegraph, M&M suffered an $800 Million dollar loss in the sale. According to the article, the insurance brokerage wants to down size in order to focus primarily on its insurance business.
Thee buyer, Altegrity, was originally called the United States Investigative Services, or USIS. This company used to be a background checking wholesaler within the industry, but has since become a retail only background checking service. USIS, under Altegrity, bought HireRight, another background checking service about a year ago. Altegrity’s purchase of Kroll is designed to broaden the company’s capabilities.
General Atlantic and the Carlyle Group were reported the other bidders. Of course, with a purchase of this scope, some wonder why the actual sale was significantly shy of M&M’s initial asking price. And there is always the issue
As for Jules Kroll, founder of Kroll in 1972, he is currently is currently developing a new credit ratings agency.
It will be interesting to see how this merger plays out and how Kroll will be coordinated with the other respective background checking agencies.
