Edison, New Jersey, October 22, 2018 – Orion Business Innovation (“Orion”), a fast-growing global digital transformation firm, announced today that it has entered into a new partnership with One Equity Partners (“OEP”), a leading middle market private equity firm. The transaction makes OEP the majority equity owner of Orion, with management retaining a minority stake in the business. Financial terms were not disclosed.
The new investment from OEP will be used to accelerate Orion’s growth within the fast-growing digital consulting, application transformation, product engineering and infrastructure-cloud market segments, where large enterprise businesses typically engage with Orion on multi-year digital transformation initiatives to meet their long-term strategic objectives.
Over the past several years, Orion has grown to become a strong organization with over 1,700 associates across client services centers in United States, India and Europe that are organized around serving four key areas of its customers’ needs: business transformation and automation, data and analytics, cloud solutions and infrastructure services. In addition, Orion offers industry specific digital software platforms to the education and professional sports verticals. Orion is uniquely positioned as a high touch, high quality and nimble solutions provider with the proven expertise and scale to solve complex problems of Fortune 1,000 customers.
The IT services market is expected to total $1.03 trillion in 2019, according to Gartner and IDC, and digital transformation is one of the fastest growing segments of software development and IT services globally, with an increasing share of corporate IT spend.
“Orion is a highly sought after and trusted development partner for its world-class customers, with a high touch client servicing model, innovative approach and ability to implement a wide range of scalable technology solutions,” said Chip Schorr, Senior Managing Director at One Equity Partners. “The company has a long history of delivering the most demanding transformation projects enabling leading companies to achieve their digital goals.”
“We are pleased to partner with Orion and its management team. This transaction builds on our firm’s history of partnering with management teams and founders of technology services companies to execute transformative acquisitions that compound business growth,” said Carlo Padovano, Managing Director at One Equity Partners.
“One Equity Partners has strong experience in building businesses through strategic transactions and operational improvements that will boost our plans for expanding Orion’s suite of integrated products and services,” said Raj Patil, Orion’s CEO. “We are excited to launch this new partnership with OEP. We have jointly identified several areas of investments to fuel our aggressive organic growth initiatives and for pursuing attractive acquisition opportunities to be the next-generation digital transformation partner of choice for our clients. The current management team will continue to lead this next phase of growth and is excited about the ability to add new capabilities and new geographies given OEP’s global reach.”
Headquartered in New Jersey, Orion is uniquely positioned as a high touch, high quality and nimble solutions provider with the proven expertise and scale to solve complex problems of Fortune 1,000 customers. Orion provides digital transformation and automation services to large enterprise customers across the financial and professional services, communications and media, professional sports and entertainment, education and healthcare industries. For more information, visit www.orioninc.com.
About One Equity Partners
OEP is a middle-market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 170 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, and Frankfurt. For more information, please visit www.oneequity.com.
For additional information, please contact:
Orion Systems Integrators, LLC