Entrepreneurs Hub advises Socrates on its sale to Sterling Check Corporation

Entrepreneurs Hub is pleased to announce it has advised on the sale of Socrates Ltd to Sterling Check Corp. (NASDAQ: STER) (‘Sterling’), a leading global provider of technology-enabled background and identity verification services.

About Socrates Ltd

Socrates is a technology company ‘powered by people’ and the leading provider of pre-employment verification and background screening services in Latin America. It differentiates itself by providing value-added and holistic solutions to US based Consumer Reporting Agencies (CRA’s) and global multinational corporates.

Socrates offer a truly nationwide service across multiple countries and is the only screening company with operational centres on the ground in Brazil, Mexico, and Colombia serving the entire Latin America region.

About Sterling

Sterling — a leading provider of background and identity services — offers background and identity verification to help over 50,000 clients create people-first cultures built on a foundation of trust and safety. Sterling’s tech-enabled services help organisations across all industries establish great environments for their workers, partners, and customers. With operations around the world, Sterling conduct more than 95 million searches annually.

Andrew Shepperd, Entrepreneurs Hub Director and Lead Advisor for the transaction commented:

“Congratulations to Robert and Marina Jones, Juan Pablo ‘JP’ and Alejandra Paredes, and the entire Socrates team. They have done a great job in building a unique offering for the Latin American market. The business now has a great new owner, and we look forward to watching it flourish under Sterling’s stewardship.

We are delighted to have advised the Socrates shareholders on this successful completion and the transaction is testament to the Entrepreneurs Hub deal team and their hard work. The deal further underlines our credentials in preparing for and managing complex mid-market transactions spanning multiple companies, borders, languages, and cultures.

This international transaction has been rewarding for several reasons. Apart from the sophisticated nature of the deal, the business proposition is built on a high integrity validation of prospective employees. This enables global employers to confidently access the Latin American talent pool and address the global talent shortage. The service is therefore an enabler that allows talented individuals in the Latin American region to have their accreditations fully recognised and become a vital part of the global employment market.”

Josh Peirez, CEO, Sterling said:

“This is an incredible opportunity to expand Sterling’s presence into a region with rapidly increasing hiring demand across our clients, especially in financial services and technology. The Socrates team has built a highly reliable operational model and suite of screening services, guided by their people-first, client-centric values that are a perfect fit with the Sterling culture.”

Robert Jones, Executive Director Socrates commented:

“We are excited to join Sterling and are proud of this next chapter for our company. We look forward to combining our regional expertise in Latin America with Sterling’s best-in-class client service model.”

JP Paredes Executive Director Socrates commented:

“M&A projects are extremely complex, and success is only possible when the right team is assembled. Having counted on the support of Entrepreneurs Hub to design and execute the strategy was key to achieve the goal; their professionalism, responsiveness and technical knowledge made them a valuable asset to us. I would definitely come back to them for assistance in any similar project in the future.”