Middle market private equity firm One Equity Partners’ (OEP) portfolio company Orion Innovation (Orion) has completed the acquisition of Tekmark Global Solutions, an outsourced technology and telecom services firm.Terms of the transaction have not been disclosed.
Headquartered in Edison, NJ, 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,” says 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,” says 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.
