NU Online News Service, June 2, 2:05 p.m. EDT
Risk consulting firm Kroll said it has completed the sale of its U.S. government security clearance screening business, Kroll Government Services Inc., to Veritas Capital, a private equity firm. Transaction terms were not released.
Kroll, a subsidiary of New York-based professional services company Marsh & McLennan Companies Inc., said in a statement that divestiture of the screening unit is in line with MMC's stated intention to focus on core business offerings at Kroll and across the firm.
MMC is the parent company of insurance broker Marsh and reinsurance broker Guy Carpenter.
In addition to its work for private sector clients, Kroll said it would continue to provide federal, state and local governments with a full suite of services unrelated to security clearances, including investigations, compliance and monitoring, security consulting, background screening, fraud solutions, and technology services.
In a separate release, Veritas said the unit would be renamed KeyPoint Government Solutions Inc. Jeff Schlanger will continue to lead the unit as chief executive officer.
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