Kramer Levin Client Kroll Sells U.S. Govt. Security Clearance Business to Veritas

Kramer Levin client Kroll, the world’s leading risk consulting company, announced on June 1 that it had completed the sale of its U.S. government security clearance screening business, Kroll Government Services, Inc., to Veritas Capital, a leading private equity firm.

In addition to its work for private sector clients, Kroll continues 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. The divestiture of this business from Kroll, a subsidiary of Marsh & McLennan Companies, Inc. (MMC), is in line with MMC’s stated intention to focus on core business offerings at Kroll and across the firm.

Terms of the deal were not disclosed.

The deal was headed by Peter S. Kolevzon, James A. Grayer and Michael Brooks, with assistance from Carol Archer, Madelyn Dorman and Michael Kreiner (Corporate), Robert N. Holtzman (Employment Law), Christine Lutgens (Benefits) and Barry Herzog and Tamika Cushenberry (Tax).

Kroll, the world’s leading risk consulting company, provides a broad range of investigative, intelligence, financial, security and technology services to help clients reduce risks, solve problems and capitalize on opportunities. Kroll is a subsidiary of Marsh & McLennan Companies, Inc. (NYSE: MMC), a global professional services firm providing advice and solutions in the areas of risk, strategy and human capital.

The deal was signed on April 17 and closed on May 29.