#United States #Scottsdale #GTCR #Concord Servicing #Orion First

Concord Servicing Expands Its Horizons

Concord Servicing, a frontrunner in credit administration software and services, has announced a strategic acquisition of Orion First, an industry leader renowned for its portfolio management and analytics in the equipment finance sector. This acquisition represents Concord's first major move following a significant investment from private equity firm GTCR in December 2024.

A Significant Expansion into Commercial Finance

The acquisition of Orion First not only amplifies Concord's operational portfolio but also signifies a robust entry into the commercial finance landscape. As stated by Concord's CEO, Dhruv Vakharia, this acquisition facilitates the company to better cater to the increasing demands of originators, lenders, and capital providers by enhancing their service offerings across both consumer and commercial markets.

“By merging Concord's extensive expertise in the consumer sector with Orion's commercial finance capabilities, we create an unparalleled platform that efficiently meets diverse market needs,” said Vakharia. The move is anticipated to address existing gaps in the industry by delivering comprehensive end-to-end credit administration solutions.

Harnessing Complementary Strengths

The collaboration between Concord and Orion First is set to produce a substantial market player, featuring a combined structure that oversees over 5 million accounts and manages assets exceeding $35 billion. Here’s what this unprecedented merger brings to the table:

• - End-to-End Offering: A premier suite of services that includes consumer and commercial portfolio management and business intelligence reporting.
• - Technology Driven: Both companies utilize proprietary platforms tailored to optimize service delivery in consumer and commercial markets.
• - Extended Geographic Reach: Their integrated operations now span key markets across the United States, Canada, and Mexico, enabling enhanced service delivery.

Ensuring Leadership Continuity

A crucial aspect of this acquisition is the retention of Orion's leadership. Mark Johnson, the current CEO of Orion First, will transition to Concord's senior leadership team, assuring a smooth operational transition. Meanwhile, the chairman of Orion, Dave Schaefer, will step into an advisory role, continuing to guide Concord’s expansion into the commercial sector.

“Joining Concord accelerates our growth trajectory while preserving the client-centric culture that established us as market leaders,” Johnson expressed. This partnership aims to significantly expand both companies' capabilities, paving the way for more innovative solutions, all while continuing the personalized service that clients have come to expect.

About the Companies

Concord Servicing boasts a rich heritage of over three decades in providing award-winning financial technology and loan servicing solutions throughout the U.S., Mexico, and Canada. This Scottsdale, AZ-based corporation specializes in serving originators, lenders, and investors managing vast sums in consumer credit assets, simplifying a wide array of processes in the specialized loan and lease market ecosystem.

In contrast, Orion First has dominated the commercial loan and lease servicing space since its establishment in 2001, providing in-depth portfolio management solutions and leveraging a data-driven approach to uphold its trustworthy reputation among lenders and investors aiming to optimize their commercials portfolios from its headquarters in Gig Harbor, WA.

For further information, interested parties can visit Concord Servicing and Orion First.

This acquisition positions Concord as not only a leader in consumer finance but also a formidable competitor in commercial finance, setting a foundation for future growth and success in both markets.