Irvine-based HireRight Inc., which does employee background checks and drug screening for employers, on Monday filed plans for an $86 million initial public offering.
The company didn’t disclose how many shares it plans to offer up or the price range, according to a filing with the Securities and Exchange Commission.
HireRight said it plans to use the money from the offering for general purposes, including expansion of sales and marketing, development of new services and an expansion of international operations.
The company plans to trade on Nasdaq under the symbol “HIRE.”
HireRight moved its headquarters to Irvine’s University Research Park late last year. It’s occupying a 63,000-square-foot office at 5151 California Ave.
The company employs about 200 workers locally and 370 people in all, and counts about $40 million in yearly sales.
Underwriters for the offering are Credit Suisse, Robert W. Baird & Co., CIBC World Markets, Piper Jaffray, and William Blair & Co.
HireRight’s major investors include Robert W. Baird & Co., Mellon Financial Corp., Doll Capital Management and Split Rock Partners.
