Gallant Capital Acquires the Government Services Business of Navient Corporation

LOS ANGELES--(BUSINESS WIRE)--Gallant Capital Partners (“Gallant”) announced that it has signed a definitive agreement to acquire the Government Services business (“NGS” or the “Company”) of Navient Corporation (Nasdaq: NAVI).

NGS provides tech-enabled outsourced business processing to U.S. federal, state, and local government clients. NGS is a leader in the tolling and parking technology and services market and provides other mission-critical services to government agencies including call center support, revenue recovery services, program management, and payment processing.

“NGS is a leader in the government services industry with a proven track record of technology-driven innovation and growth. We look forward to supporting the NGS management team and to a future of continued growth as a standalone business,” said Anthony Guagliano, Partner at Gallant. “This acquisition represents Gallant’s second corporate carveout in the past year and we are pleased Navient chose Gallant on the transaction. We are confident that under our ownership and in partnership with the NGS team, the standalone NGS business will thrive,” added Jon Gimbel, Partner at Gallant.

The acquisition is expected to close in the first quarter of 2025, subject to certain conditions. The acquisition of NGS would represent the third platform investment made from Gallant’s second fund, Gallant Capital Partners II.

About Navient’s Government Services Business

Navient’s Government Services business includes Navient Business Processing Group, Duncan Solutions, Gila (D.B.A. Municipal Services Bureau), Pioneer Credit Recovery and Navient BPO. Across its various segments, NGS provides tech-enabled processing, collections, and record lookups for tolling and parking authorities, outsourced government program management and support, government agency revenue management, and end-to-end payment processing solutions. The Company has approximately 1,200 employees who will be included in the acquisition.

About Navient Corporation

Navient Corporation (Nasdaq: NAVI) provides technology-enabled education finance and business processing solutions that simplify complex programs and help millions of people achieve success. Navient’s customer-focused, data-driven services deliver exceptional results for clients in education and government. Learn more at navient.com.

About Gallant

Gallant Capital Partners is a private equity firm that invests in technology, business services, and industrial companies. Gallant executes an operationally focused investment strategy with a priority on partnering closely with companies that can benefit from its extensive industry relationships and operating expertise. The firm partners with owners, founders, and management teams to maximize value and drive long-term, sustainable growth for its portfolio companies. Gallant was founded in 2018 and is headquartered in Los Angeles. For more information, visit www.gallantcapital.com.