First Advantage Acquires Phoenix Research Corporation
|August 15, 2005|
Addition Enhances Scale and Services in Risk Mitigation Segment
ST. PETERSBURG, Fla., /PRNewswire-FirstCall/ -- First Advantage Corporation (Nasdaq: FADV), a risk mitigation and business solutions provider, has acquired Phoenix Research Corporation, a regionally licensed private investigative agency headquartered in Smithtown, NY, in the latest execution of its growth strategy. The acquisition represents additional scale and expertise for First Advantage's Risk Mitigation segment.
Under the direction of Peter Kazlauskas, a former New York City police detective, Phoenix Research has provided businesses in the Northeast with surveillance and general and insurance investigative services for more than 20 years. Of special interest are the company's industry-respected Special Investigative Unit (SIU) services, which support insurance carriers and self- insured employers in developing, training and complying with state-mandated fraud plans and procedures.
"Building scale is a key strategy for First Advantage's existing business lines," said John Long, chief executive officer of First Advantage Corporation. "The Phoenix Research acquisition not only serves this objective for First Advantage Investigative Services, but also provides us with a greater footprint in the Northeast and long-established SIU expertise to enhance our current nationwide offering."
Peter Kazlauskas, president and owner of Phoenix Research Corporation, said, "I am looking forward to combining our resources and knowledge with First Advantage. The resulting breadth of services and collective industry knowledge will greatly benefit our clients."
Phoenix Research will immediately begin doing business as First Advantage Investigative Services as it is integrated with existing operations under a combined management team headed by Richie Taffet, First Advantage Investigative Services president.
Source: First Advantage Corporation