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Navient Acquires Asset Recovery Firm Gila.

MANews-(C)2009-2015

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.

Country: USA

Sector: Business and Consumer Services

Target: Gila LLC

Buyer: Navient

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Date:Feb 25, 2015
Words:191
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