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M&A roundup: BrightStar Care, Trace3 and HireRight announce acquisitions

April 04, 2023

BrightStar Care, a home care provider and medical staffing franchisor, acquired eight franchise locations. Trace3 closed a transaction to acquire Houston-based advanced cybersecurity consulting firm Set Solutions. HireRight completed the acquisition of Latin American workforce background screening provider Inquiro Vitae.

BrightStar Care

BrightStar Care, a Chicago-based home care and medical staffing franchisor, acquired eight of its franchise locations under its BrightStar Owned brand. The acquisition brings the number of company-owned operations to 30.

“As we continue to align with where the healthcare industry is heading, we are focused on expanding BrightStar Owned by acquiring well-established franchised agencies that our entire network can learn and grow from,” said Shelly Sun, founder and CEO of BrightStar Care.

The eight locations added to the BrightStar Owned organizations are located in Wisconsin and were previously owned by BrightStar Care franchisees Susan Rather, Jeff Tews and Ryan Tews, who operated their firms for more than 16 years.

Following the acquisition, Rather and the Tewses will stay on for a few months to assist the BrightStar Owned team during this period of transition.

Trace3

Trace3, an IT solutions provider based in Irvine, California, closed a transaction to acquire Set Solutions, a Houston-based advanced cybersecurity consulting, procurement solutions and staffing provider.

“Today’s technology leaders are confronted with the most demanding cyber threats and Set Solutions will expand our capabilities and assist us on our mission to revolutionize our clients’ security strategies, platforms and architectures to keep pace with our fast-moving business environment,” Trace3 CEO Rich Fennessy said.

Founded in 1992, Set Solutions provides services to address challenges that technology leaders encounter in the ongoing evolution of the cyber threat landscape.

HireRight

HireRight, a global provider of background screening services and workforce solutions headquartered in Nashville, Tennessee, completed its acquisition of Inquiro Vitae, a background screening provider based in Bueno Aires, Argentina.

“We understand the significance of local expertise when conducting employment background checks and believe that our local presence in Argentina will help set us apart from other global screening providers and open the door for new business in the region,” said Guy Abramo, president and CEO of HireRight.

The acquisition is part of HireRight’s continued investment and growth strategy in Latin America following the launch of its Mexico subsidiary in 2021.

Founded in 2019, Inquiro Vitae was formerly part of the credit bureau Fidelitas. The company provides academic verifications, employment background checks, identity verification, legal searches and continuous monitoring services.