May 11, 2007 LAWFUEL – The Law Firm Newswire – Davis Polk & Wardwell is advising US Investigations Services, Inc. (USIS) and Welsh, Carson, Anderson & Stowe (WCAS) in connection with the acquisition of USIS by Providence Equity Partners Inc., a Rhode Island-based private equity firm. USIS, a Virginia-based portfolio company of WCAS and The Carlyle Group, is a leading provider of pre-employment screening solutions, the largest provider of security investigations for the federal government and a global supplier of cleared personnel supporting critical federal programs.
According to the terms of the transaction, Providence will acquire USIS from The Carlyle Group and WCAS for approximately $1.5 billion in cash. The transaction is expected to close in the third quarter of 2007, pending regulatory approvals and other customary closing conditions.
The Davis Polk corporate team includes partner Carole Schiffman, associates Himanshu P. Singh and Marie-Christine Eldridge and legal assistant Matthew Cohen. Partner Sartaj Gill and associate Justin Goldblatt are providing credit advice. Partner Kathleen L. Ferrell and associate Jenny L. Ruzow are providing tax advice. Partner Gail A. Flesher is providing environmental advice. Counsel George R. Ince Jr. is providing employment advice. The intellectual property team includes associate Stefan Quick (not yet admitted). All members of the Davis Polk team work in the New York office.