Altegrity Restructuring Plan Confirmed by Court

Expects to Emerge from Chapter 11 in the Coming Weeks

HireRight and Kroll are Healthy and Profitable Businesses, Continue to Serve Clients with Distinction

NEW YORK--(BUSINESS WIRE)-- Altegrity, Inc. (“Altegrity” and, with certain of its affiliates, the “Company”) today announced that the United States Bankruptcy Court for the District of Delaware (“the Court”) has confirmed the Company’s Plan of Reorganization (the “Plan”). Upon completion of the restructuring process, which is expected to occur in the coming weeks, the Plan will reduce the Company’s debt, thereby improving its capital structure and liquidity profile.

“We are pleased to have reached this important milestone, and look forward to emerging from the financial restructuring process as a stronger and more competitive company that is well positioned for growth and success,” said Jeffrey Campbell, Altegrity’s President and Chief Financial Officer. “With significantly less debt and an improved capital structure, we are well-positioned to invest in our Kroll and HireRight businesses to enhance their growth and create value for our stakeholders.”

Mr. Campbell continued, “Our entire enterprise would like to thank our clients and vendors for their unwavering loyalty to our businesses. We also want to thank our employees for their commitment to our stakeholders and to each other throughout the financial restructuring process. Kroll and HireRight are healthy and profitable businesses, and we are pleased both organizations have continued to serve their clients with distinction.”

Court documents and additional information are available through Altegrity’s claims agent, Prime Clerk, at https://cases.primeclerk.com/altegrity or (855) 842-4125.

Debevoise & Plimpton LLP is serving as the Company’s legal advisor, AlixPartners LLP is serving as its restructuring advisor and Evercore LLC is serving as its financial advisor.

Paul, Weiss, Rifkind, Wharton & Garrison, LLP and Houlihan Lokey are advising the ad hoc committee of unaffiliated holders of the Company’s second and third lien debt. Kirkland & Ellis LLP and Moelis & Company LLC are advising the ad hoc committee of unaffiliated holders of the Company’s first lien debt.

About Altegrity

Altegrity is a global, diversified risk and information services company. Headquartered in New York, NY, Altegrity is the parent company of two separately managed businesses: HireRight, a leading provider of employment background screening and eligibility solutions, and Kroll, a leading global provider of risk and information management services and solutions.

Forward-Looking Statements

This press release may contain “forward-looking statements.” These forward-looking statements include, but are not limited to, statements about the restructuring and the implementation of the Restructuring Support Agreement, the Chapter 11 filing, Altegrity’s expectations regarding the performance of its businesses and other non-historical statements. Forward-looking statements identify prospective information. Important factors could cause actual results to differ, possibly materially, from those stated in the forward-looking statements. In some cases you can identify forward-looking statements by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “potential,” “should,” “will” and “would” or the negatives thereof, variations thereof or other similar words. You should read statements that contain these words carefully because they discuss our future priorities, goals, strategies, actions to improve business performance, market growth assumptions and expectations, future business opportunities, capital expenditures, financing needs, financial position and other information that is not historical information or state other “forward-looking” information. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by which, such performance or results will be achieved. Forward-looking information is based on information available at the time and/or management's good faith belief with respect to future events, and is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in the statements. Forward-looking statements speak only as of the date the statements are made. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect thereto or with respect to other forward-looking statements.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150814005701/en/

Media
Sard Verbinnen & Co
Andrew Cole / Ellen Davis / Patrick Scanlan
212-687-8080
[email protected]

Source: Altegrity, Inc.

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