Centre Partners acquires military headhunter(2)

The New York-based private equity firm predicts that the acquisition of the military recruiting and consulting firm Orion will create synergies with its other portfolio companies.

New York-based Centre Partners announced today the acquisition of Raleigh, North Carolina-based Orion International Consulting Group. The financial terms of the deal were not discussed.

Orion was founded in 1991 by five military veterans, and specialises in finding permanent placement civilian opportunities for exiting junior military officers, enlisted technicians and military healthcare professionals.

Jeffrey Evans, a veteran of the staffing industry, has been installed as Orion’s executive chairman. He said in a statement that the acquisition of Orion will help Centre Partners to expand further into its target industries.

“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 veterans and our client corporations,” Evans said.

Centre Partners targets the industrial products and services, consumer, healthcare, energy, media, restaurants, retail and aviation services sectors. It is currently investing its fourth fund, which has roughly $780 million (€580 million) in committed capital. One of the more prominent limited partners in this fund is the Brenninkmeijer family of Switzerland, which committed $600 million to Centre Partners in 2003. The family’s private investment vehicle, Bregal Investments, has a programme of being a primary provider of capital to a select group of private equity funds.

Recently Centre Partners has been very active in the energy sector. Earlier this year Centre Partners collaborated with Centre Southwest and a specially formed management team to acquire Dominion Midstream Services, a natural gas gathering and dehydration system in East Texas and Northern Louisiana. In February, Centre Partners’ platform Gray Energy Services acquired Falcon Wireline, a provider of cased-hole wireline services in western Oklahoma and the Panhandle region of northwest Texas.

Centre Partners has also invested part of its latest fund in the healthcare sector. In February 2006, it backed DSI Holding Company in the purchase of 100 dialysis clinics.