PR Newswire
Transaction creates comprehensive GTCR-backed platform spanning consumer and commercial markets with over $35 billion in managed assets
Concord Servicing (“Concord”), a leading provider of credit administration software and services, announced the strategic acquisition of Orion First (“Orion”), the leader in third-party portfolio management and analytics for the equipment finance industry.
The transaction positions Concord as a leading technology-enabled provider of credit administration solutions across the consumer finance, commercial lending, and asset-backed finance markets. Orion First is the first acquisition for Concord since GTCR, a leading private equity firm, invested in the company in December 2024.
Strategic Market Expansion
The acquisition represents a major expansion into commercial finance, leveraging Orion First’s market-leading position in equipment lease servicing.
“This expansion allows us to meet the growing needs of our originator, lender, and capital provider clients by delivering end-to-end credit administration and servicing solutions across both consumer and commercial end markets,” said Dhruv Vakharia, CEO of Concord. “By combining Concord’s deep consumer sector expertise with Orion’s commercial finance capabilities, we’ve built an unmatched platform that delivers best execution across multiple markets and products, addressing a clear gap in the industry. We’re excited to welcome the Orion First team to the Concord family as we continue to scale in support of our clients.”
Read More: Global Fintech Interview with Beth McCoy, President of RewardOps
Complementary Strengths Drive Value Creation
The combination of Concord and Orion First will create a market-leading player with substantial scale and capabilities:
- Combined Scale: Over 5 million accounts and $35 billion in managed assets
- End-to-End Offering: Market-leading consumer & commercial portfolio management, backup servicing, business intelligence reporting, and delinquency services
- Technology Driven: Proprietary, enterprise-grade platforms optimized for both consumer and commercial servicing markets
- Geographic Reach: Combined operations spanning key markets with enhanced service delivery throughout the United States, Mexico, and Canada
Leadership Continuity Ensures Seamless Transition
The Orion executive team will remain with the company, including current Orion CEO Mark Johnson, who will join Concord as a member of its senior leadership team. Dave Schaefer, Orion’s Chairman, will transition to an advisory role with Concord, providing strategic guidance on further commercial market expansion.
“Joining Concord accelerates our growth trajectory while preserving the client-first culture that made us market leaders,” said Mark Johnson, CEO of Orion First. “Dave and I are excited about this partnership, which expands our capabilities and resources dramatically, enabling us to deliver even more innovative solutions while maintaining the personalized service our clients expect.”
Read More: Finance Leaders Reveal The Hidden Costs of Legacy Expense Management Systems
[To share your insights with us, please write to psen@itechseries.com ]
