Navient said Friday Gallant Capital will absorb approximately 1,200 employees as part of the transaction, which will enable the education finance platforms provider to exit the business processing solutions market.
The acquisition, first announced in January, marks the private equity firm’s third platform investment through its second fund, Gallant Capital Partners II.
What Does Navient’s Government Services Business Do?
Navient’s Government Services business includes Navient Business Processing Group, Duncan Solutions, Pioneer Credit Recovery, Navient BPO and Municipal Services Bureau.
The business segment provides call center support, program management, payment processing and revenue recovery services for federal, state and local government customers. It also delivers technologies and services to tolling and parking authorities.
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