Gallant said Sunday it expects the transaction to conclude in the first quarter of 2025.
“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,” said Jon Gimbel, partner at Gallant.
If completed, the transaction will be the third platform investment the private equity firm made through its second fund, Gallant Capital Partners II.
Delivering Business Processing Support to Government Customers
Navient’s Government Services business has approximately 1,200 employees and includes Navient Business Processing Group, Duncan Solutions, Pioneer Credit Recovery, Navient BPO and Municipal Services Bureau.
NGS provides call center support, program management, payment processing and revenue recovery services for federal, state and local government clients. The business also delivers technologies and services to tolling and parking authorities.
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