Orion becomes the latest US-based company to join ProSiebenSat.1 Media-owned Red Arrow’s ranks, coming after deals for companies including Kinetic Content, Karga Seven Pictures, Fabrik Entertainment and Left/Right Productions.
The latest deal is for a majority stake in Orion, which produces Building Alaska and Treehouse Guys for DIY Network and Tiny House Big Living and Living Big Sky for HGTV.
Orion founder Chris Dorsey (pictured) will continue to lead the firm following the deal, with Red Arrow International selling the show’s programmes internationally.
Furthermore, Orion will change its name to Dorsey Pictures this year.
“Chris and his wife Amy along with minority partner Larry Sletten have built a terrific business and we couldn’t be more pleased about the chance to partner,” said Jan Frouman, Red Arrow’s CEO.
“They are not only uniquely positioned to deliver access to a vibrant target audience, but will also provide us with essential branded entertainment know-how.”
Orion CEO Dorsey said Red Arrow was “the perfect strategic partner” whose approach was in “perfect alignment with our own goals and directives”.
ACF Investment Bank and Sidley Austin advised Orion, with Stella Capital Advisors and Milbank did the same for Red Arrow, which now comprises a global distribution arm and 14 production companies in six territories.