Concord Servicing, a provider of credit administration software and services, acquired Orion First, a third-party portfolio management and analytics company for the equipment finance industry.

Orion is the first acquisition for Concord since GTCR, a private equity firm, invested in the company in December 2024. The acquisition represents a major expansion into commercial finance, leveraging Orion First’s 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,” Dhruv Vakharia, CEO of Concord, said. “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.”

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,” Johnson said. “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.”