Orion Innovation, which is backed by One Equity Partners, has acquired Edison, New Jersey-based Tekmark, an outsourced technology and telecom services firm. No financial terms were disclosed.
NEW YORK – APRIL 28, 2020 – One Equity Partners (“OEP”), a middle market private equity firm, today announced that its portfolio company Orion Innovation (“Orion”), a global business transformation and product development firm, has completed the acquisition of Tekmark Global Solutions, LLC (“Tekmark” or “the Company”), a leading outsourced technology and telecom services firm. Terms of the transaction were not disclosed.
Headquartered in Edison, N.J., Tekmark provides software engineering, quality engineering, telecom engineering, managed services, cyber security and data analytics. The Company’s experienced team of over 850 IT professionals will be deployed to Orion’s US-based delivery team.
“Tekmark’s solutions and deep customer relationships are complementary to Orion’s services and ability to innovate digital transformation solutions for Fortune 1,000 companies worldwide,” said Chip Schorr, Senior Managing Director, OEP. “This transaction reflects OEP’s ability to work with our management teams to identify compelling acquisition opportunities in challenging market environments that help our companies enhance their customer base, enter new markets and strengthen capabilities.”
“The addition of Tekmark’s expertise and strong US presence enhances Orion’s ability to meet the ever-evolving needs of our customers’ complex digital transformation projects, while strengthening our capabilities in financial services and telecommunications,” said Raj Patil, Chief Executive Officer of Orion. “We’re excited to welcome CEO Guy DelGrande and his talented team at Tekmark to Orion as we continue to expand globally into attractive industry verticals.”
OEP has proven experience investing in and building IT services businesses through strategic acquisitions that create market-leading businesses. Investments in the space include Rizing, LLC, a privately-held global company providing leading SAP functional and technical services; Computer Design and Integration, a provider of IT infrastructure hardware and software, consulting and managed services; and, Lutech, a mid-sized IT system integration and solutions provider to medium and large Italian private and public-sector clients.
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 180 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.
About Orion Innovation Orion is a premier, global business and technology services firm that provides digital transformation and product development services. Rooted in engineering and design thinking, along with a unique combination of agility, scale and maturity, its team of over 4,000 associates help Fortune 1,000 companies Improve efficiencies, enhance customer experiences and develop new digital offerings. Through its delivery centers in the Americas, Europe, and APAC Orion serves clients across financial and professional services, pharmaceutical and life sciences, automotive, communications and media, professional sports and entertainment, and education. For more information, visit www.orioninc.com.