In one of Oregon’s first green-card-for jobs deals, Artemis Capital LLC paid about $2 million for Orion Corporate Services Inc, and Cleaner Image Maintenance from their common owner in a deal brokered by Portland-based Aginsky Consulting Group. Artemis will combine the two under Cleaner Image name and expand the business.
Aginsky, which specializes in brokering deals between Eastern European investors and U.S businesses,will serve as the minority owner and managing partner.
The Cleaner Image deal is a fresh example of how the U.S government’s EB-5 program for immigrant investors is at long last bringing foreign investors to Oregon.
Through EB-5, foreign Investors can secure visas for themselves and their families for investing a minimum of $1 million in the U.S. adding generating or preserving 10 jobs. Artemis will add at least 10 to 20 positions, said Aginsky president Alexander Aginsky.
EB-5 has gained attention in the real-estate world in recent years as developers use it to amass funds to fuel construction projects. The Artemis deal takes a direct approach that could serve as a useful lesson to entrepreneurs looking to sell their small-to medium-sized business.
To meet the job-creation requirements., foreign investors seek out labor-intensive businesses with a potential to scale up. Aginsky has actively scouted fitness centers, medical practices and cleaning firms, among others, but so far has more buyers than sellers.
“We have access to more Capital than deals,” Aginsky said.