Wilson will focus on company growth, enhancing offerings and delivering unparalleled customer service
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404-929-0091 ext. 220
FOR IMMEDIATE RELEASE:
ATLANTA—Feb. 17, 2012—e-VERIFILE.com, a leading provider of risk assessment, administrative support and workforce solutions, today announced it has been acquired by prominent Atlanta entrepreneur Mark Wilson, along with partners, Frontier Capital, The Yucaipa Companies, Magic Johnson Enterprises and Plexus Capital.
Wilson brings more than 25 years of leadership experience in the information services industry to his role of president and CEO. As founder and CEO of Atlanta-based Ryla, a provider of value-added customer contact services, Wilson established a nationally recognized organization with more than 3,000 employees, serving Fortune 500 companies, government agencies and nonprofit organizations.
During his tenure the company received numerous national awards and Wilson earned the prestigious Ernst & Young Entrepreneur of the Year Award in 2010. Ryla was acquired in 2010.
“This investment strengthens e-VERIFILE’s ability to deliver more holistic credentialing solutions and help organizations improve their recruiting and vendor onboarding processes,” said Stephanie Wijesinghe, who will continue in her role as COO of the company. “We intend to take advantage of this exciting opportunity to invest in improvements to all aspects of our business and deliver excellent customer service while enhancing our offerings.”
e-VERIFILE offers employee screening, compliance awareness testing, access control solutions and administrative support solutions that streamline routine workforce, contractor/vendor and security management processes. It serves a number of industries, including healthcare, gaming, pharmaceutical, transportation and utilities.
The new ownership structure of the company allows for e-VERIFILE to be certified as a Minority Business Enterprise (MBE). This classification gives customers access to emerging urban and global markets, and the ability to meet certain regulatory and compliance requirements.
The financial partners in this acquisition expressed excitement about the opportunity to participate in the transaction.
“We had the first-hand experience of working with Mark as investors in his last company,” said Andrew Lindner, managing partner at Frontier Capital. “We believe in his vision and are confident his industry relationships and leadership skills can elevate e-VERIFILE’s market position and help the company achieve phenomenal growth.”
Basketball legend, Earvin “Magic” Johnson, of Magic Johnson Enterprises, added that Wilson’s leadership played a large part in Yucaipa-Johnson’s decision to invest.
“I was impressed with Mark’s ability to grow Ryla and bring jobs to the communities in which he operated,” Johnson said. “Partnering with him aligns perfectly with our fund’s goals of providing access to capital for companies supporting our corporate partners as well as serving under-served markets.”
The company will maintain its headquarters in Atlanta, Ga.
About Frontier Capital
Frontier Capital is a Charlotte based growth equity firm focused exclusively on technology enabled business services. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions, or generate shareholder liquidity. We make minority and majority equity investments in high growth companies and have built an excellent track record of delivering returns to both our investors and management partners. To learn more about Frontier, please visit www.frontiercapital.com
About The Yucaipa Companies
The Yucaipa Companies is a premier investment firm that has established a record of fostering economic value through the growth and responsible development of companies. As an investor, Yucaipa works with management to strategically reposition businesses and implement operational improvements, resulting in value creation for stakeholders, customer and employees. Since its founding in 1986, the firm has completed mergers and acquisitions valued at more than $30 billion.
About Magic Johnson Enterprises
Magic Johnson Enterprises, formed in 1987, serves as a catalyst for community and economic empowerment by making available high-quality entertainment, products and services that answer the demands of ethnically diverse urban communities. Through investment, partnership and consultation, Magic Johnson Enterprises has a portfolio of companies that strategically work together to reinforce the organization's focus on serving emerging, multicultural communities. Learn more at www.magicjohnson.com
About Plexus Capital
Plexus Capital is a Charlotte-based private equity firm focusing on middle-market businesses across all industries. Plexus invests in profitable companies with more than $10 million of revenue requiring capital for growth, acquisitions, recapitalizations, and buyouts. With $255 million under management across two funds, Plexus has invested in more than 50 businesses since 1995.
ABOUT e-VERIFILE.COM INC.
e-VERIFILE.COM™ provides innovative web-based solutions that streamline workforce, contractor and security management processes for a variety of organizations and industries worldwide.
For additional information please visit: www.e-verifile.com
Anthony M. Cooper
Director of Marketing & Communications