June 25, 2007 (New York, NY and Raleigh, NC)—–Centre Partners announced today that it has completed the acquisition of Orion International Consulting Group, Inc. The investment was achieved in partnership with Jeffrey Evans, a staffing industry veteran, who will serve as the Company’s Executive Chairman, and with key members of Orion International’s senior management team.
Founded in 1991 by five military veterans, Orion International is the nation’s largest recruiting and permanent placement organization specializing in individuals leaving the military. Over the course of its 16-year history, Orion has placed over 17,000 prior military professionals with more than 2,000 different client corporations. Orion is primarily dedicated to finding civilian career opportunities for exiting junior military officers, enlisted technicians and military healthcare personnel. In addition to the Company’s direct placement business it also offers complementary services through its subsidiaries, including MilitaryStars, the nation’s largest military career expo provider; Velastar Solutions, which provides contract and contract-to-hire staffing opportunities for veterans; and Orion Health Professionals, which connects transitioning military health professionals with premier health systems throughout the nation. The company is headquartered in Raleigh, North Carolina with five additional offices located in close proximity to military bases across the country in San Diego, CA, Cincinnati, OH, Virginia Beach, VA, Austin, TX, and Sarasota, FL.
Orion Chief Executive Officer Bill Laughlin said, “With over 250,000 military personnel transitioning annually, we knew it was time to expand the scope of our business so that Orion remains poised to assist these men and women find jobs throughout Corporate America. I’m extremely confident that our new partnership with Centre will enable us to increase the span of our operations, providing greater resources for our military candidates, who have served their country honorably and deserve the best possible chance at a successful and rewarding civilian career.”
“Orion’s unique operational model and strong management team offer an excellent platform for growth, both organically and through targeted acquisitions,” said Jeffrey Evans, who will serve as the Company’s Executive Chairman. “We look forward to working together to expand further in sectors like health care, energy and aviation, enabling us to provide even greater opportunities for transitioning military professionals and our client corporations.”
Bob Bergmann, Senior Partner at Centre Partners, stated, “Our new partnership with Orion’s management team is a prime example of the Centre Resource Model in action. Centre stands ready to support the anticipated growth with additional capital. Orion has an exciting future and we are pleased to be a part of it.”
About Centre Partners:
Centre Partners, founded in 1986, is a leading private equity firm with a middle market focus that seeks to make acquisitions and equity investments alongside management teams who have or desire a meaningful economic stake in the future success of their businesses. Centre Partners' Principals have invested over $3 billion in more than 80 companies, partnering with management teams across a broad spectrum of industries. Centre Partners provides those teams with access to its unique resources, which include an extended network of experienced and proven operating executives. Centre Partners has offices in New York City, Los Angeles and Dallas, through our strategic relationship with Centre Southwest. The firm is currently investing through its fourth fund, which has approximately $780 million of committed capital. Centre has deep investment expertise covering the industrial products and services, consumer, healthcare, energy, media, restaurants, retail, and aviation services sectors. Additional information about Centre Partners is available at
www.centrepartners.com.
About Orion International:
Orion International was founded in 1991 and is the nation’s largest military recruiting and consulting firm. In addition to the Company’s direct placement business it also offers complementary services through its subsidiaries, including MilitaryStars, the nation’s largest military career expo provider; Velastar Solutions, which provides contract and temp-to-hire staffing opportunities for veterans; and Orion Health Professionals, which connects transitioning military health professionals with premier health systems throughout the nation. Additional information about Orion International is available at
www.orioninternational.com.
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