Owner Resource Group Sells Gila Corporation to Navient
AUSTIN, February 27, 2015 – Owner Resource Group, LLC (“ORG”) announced today that it has sold Gila LLC (“Gila” or the “Company”) to Navient (Nasdaq: NAVI). Navient is a leading loan management, servicing and asset recovery company.
Founded in 1991, Gila, LLC offers business process outsourcing focusing on revenue enhancement services. The Company serves state governments, municipal government entities and other public entities, using a technology platform that delivers exceptional customer service. Gila empowers talented employees with advanced technology, data management tools and leading edge business practices to exceed the expectations of its clients. Through its business units, Municipal Services Bureau (MSB) and Gila Group, the Company services over 600 clients in 39 states.
Jon Gormin, Managing Director of Owner Resource Group, commented “The team at Gila did an outstanding job serving their customers and growing the business. We will miss working with them and wish them well.”
Gila CEO Bruce Cummings said, “Owner Resource Group was an outstanding partner from the moment they acquired us in 2010. They provided the capital and resources that proved instrumental in helping Gila grow our top line by more than 45% during their ownership.”
The transaction closed on February 20th. Terms were not disclosed. Lazard Middle Market acted as financial advisor to Gila, LLC.
Owner Resource Group, LLC
Owner Resource Group is an Austin, Texas based private investment firm founded to bring superior outcomes to privately held businesses. We make investments that enable business owners and management teams to pursue their objectives and accelerate the growth of their companies in a disciplined manner. We appreciate an owner’s need for fairness, certainty, flexibility and confidentiality when 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.
For additional information, please visit www.orgroup.com or contact Will Burnett (email@example.com or 512-505-4180).