Owner Resource Group Partners with Management Team to Acquire Leading Accounts Receivables Management Company
Group Leads Acquisition of Gila Corporation
AUSTIN, August 3, 2010 – Owner Resource Group (“ORG”), in partnership with the management of Gila Corporation, announced today that it has acquired Gila Corporation (“Gila” or the “Company”).
Founded in 1991 and headquartered in Austin, Texas, Gila (www.GilaCorp.com) offers outsourced accounts receivable collections, payment processing and call center services to governmental entities and financial institutions nationwide. The Company provides a full suite of accounts receivables management (“ARM”) solutions, tailored to each client’s specifications. Through its strategic business units, Municipal Services Bureau (MSB) and Gila Group, the Company empowers more than 400 talented employees with advanced technology, data management tools and leading edge business practices to increase the collections efficiency of its 550+ nationwide government clients by raising collection rates and lowering costs. MSB collects delinquent fines, fees, debts and other past due obligations for a wide variety of clients within the government sector. Gila Group specializes in outsourced collections and customer service functions for financial institutions.
Gila distinguishes itself based on its brand: Experience, Execution and Ethics. The Company has achieved the Professional Practices Management System (PPMS) certification from the Association of Credit and Collections Professionals (ACA International). Additionally, the Company is a SAS 70 (Type II) certified service organization and maintains an A+ rating with the Better Business Bureau.
Mark Green, Chairman of Owner Resource Group, commented, “The Gila management team has built a leading company in the accounts receivables management space. We believe the Company’s long track record of providing outstanding service to their customers in a highly ethical manner differentiates Gila from their competition and we look forward to supporting the Company’s continued growth.”
Gila CEO Bruce Cummings and other top management will remain in their current positions. Cummings commented, “This relationship will be a significant positive for our employees and customers. With the full strength of ORG’s capital and resources behind us, we intend to accelerate our service offering to exceed the needs of our clients while maintaining the high standards of quality and customer service our clients have come to expect.”
The transaction closed July 31, 2010. Terms of the transaction were not disclosed. Roundtable Investment Partners LLC, National City Equity Partners, and management participated in the investment. Texas Capital Bank provided the senior financing and National City Equity Partners provided the subordinated debt financing.
Owner Resource Group, LLC
Owner Resource Group makes investments that enable business owners and management teams to pursue their objectives. We provide certainty, fairness, flexibility, and confidentiality to business owners considering a transaction. After a transaction, our philosophy is to align our interests with management to support the existing culture and the continued growth of the business. ORG invests in companies with greater than $10 million in revenue, long-term growth prospects, and an existing, capable management team open to our value-added, collaborative approach. Owner Resource Group is located in Austin, Texas.
For additional information, please visit www.orgroup.com or contact Will Burnett at 512-505-4180.