Sterling Infosystems Announces Calera Capital's Investment

NEW YORK, Dec. 3, 2010 /PRNewswire/ -- Sterling Infosystems, Inc., a leading provider of employment and background screening services, announced that it has received from Calera Capital, a leading middle-market private equity firm, a significant capital investment.  Sterling is very well capitalized and will have significant equity capital to support its organic and acquisitive growth plans.

Greenblatt, founder and chief executive officer, and Richard Seldon, president, will continue to lead the Company.  Paul Walsh, a Calera operating partner, will serve as chairman, and Mark Williamson and Michael Moon of Calera will join the Board.

"We are incredibly proud of our continuous growth over the past three decades," said Greenblatt.  "Our exceptional management team and industry-leading technology has positioned Sterling as the dynamic force in the industry.  Over the last seven years, Sterling grew ten-fold and became a global leader in its industry.  With Calera Capital's experience and expertise, Sterling will continue to help corporate America hire and retain the very best human capital.  Our management team and I look forward to continue leading and growing this organization for many years to come."

Paul Walsh stated: "Under the leadership of Mr. Greenblatt and his executive team, Sterling has experienced a 35-year history of success and has established itself as the technology and service leader in its industry. The Company has tremendous momentum, and we are excited to support Bill and his team in continuing this impressive record of growth and performance."

Michael Moon of Calera added: "Sterling has a substantial opportunity for further organic growth, and we are also very excited to support and invest behind Sterling's acquisition program and the development of new products and services."  

Calera Capital will be investing in Sterling through its fourth fund.  Terms of the transaction were not disclosed.

About Sterling Infosystems, Inc.

Sterling Infosystems, Inc. (www.sterlinginfosystems.com) is a leading New York-based technology firm providing a broad range of services, including employment and student screening, corporate due diligence and background investigation, occupational health, and employment-related business tax consulting. Sterling serves clients across the United States and in 200 countries, territories and dependencies around the world. More than 9,000 companies trust Sterling to provide them with high-quality, reliable data on which they base hiring, continued employment and admission decisions. With offices in most major cities in the U.S., Sterling's clients range from leading Fortune 500 firms to small and medium-sized businesses. Sterling's industry-leading CourtDirect technology allows it to provide services faster, better and more cost-effectively than other providers.

About Calera Capital

Founded in 1991, Calera Capital is a private investment firm which has managed approximately $2.8 billion of capital. With offices in San Francisco and Boston, Calera invests across a diverse range of industries including business services, financial services, food and consumer, healthcare, building products, and industrial manufacturing. Calera Capital makes substantial equity investments in operating companies, typically with enterprise values up to $1 billion, and seeks to build long-term sustainable value by working with management teams to implement strategic and operating initiatives. 

The securities referred to above have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States unless registered under the Securities Act or under an applicable exemption from such registration requirements. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 

SOURCE Sterling Infosystems, Inc.