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One Fairness-Backed Orion Innovation Seals Add-On Deal With out Private Contact

Orion Innovation, a private equity-backed technology company, had to do without one key component of the deal-making process when it purchased engineering technology company Tekmark Global Solutions LLC this month: physical contact.

“I’ve been in the private-equity industry for a quarter of a century, and that’s a lot of credit cycles,” said Chip Schorr, senior managing director at One Equity Partners, the midmarket buyout firm that has owned Orion since late 2018. “I’ve never closed a deal and done diligence completely virtually…

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