Navient Acquires Asset Recovery Firm Gila.
25 February 2015 - US-based loan management, servicing and asset recovery company Navient (NASDAQ: NAVI) has acquired US-based asset recovery specialist Gila LLC, the company said on Wednesday.
Terms of the deal were not disclosed.
The Austin, Texas-based asset recovery and business process outsourcing firm focuses on the state and local government market, serving more than 600 clients in 39 states.
Commonly known as Municipal Services Bureau, or MSB, the firm provides receivables management services and account processing solutions for state governments, court systems and municipalities.
MSB will maintain its management team, headquarters location, and staff of approximately 400 people.
The firm is expected to generate approximately USD 70m in revenue in 2015. Founded in 1991, the firm was owned previously by Owner Resource Group, an Austin, Texas-based private investment firm.
Navient said that the addition of MSB complements existing asset recovery and business process outsourcing services.
Lazard Middle Market served as financial advisor to Gila.
Sector: Business and Consumer Services
Target: Gila LLC
Deal size in USD:
Type: Corporate Acquisition
Buyer advisor: , ,
Comment: Terms of the deal were not disclosed
|Printer friendly Cite/link Email Feedback|
|Publication:||M & A Navigator|
|Date:||Feb 25, 2015|
|Previous Article:||Deal snapshot: LEGEND OIL AND GAS TO ACQUIRE MAXXON ENERGY FOR USD 4.354M.|
|Next Article:||Shareholders of Montan Capital, Strait Minerals Approve Merger.|