Private equity firm Owner Resource Group (ORG) has acquired GC Services, a provider of business outsourced services. NB Alternatives Advisors – a subsidiary of Neuberger Berman – co-invested in this transaction with ORG.
GC Services is a provider of accounts receivable management and business process outsourcing services to Fortune 500 companies, large financial institutions and large governmental entities. According to ORG, the company is one of the oldest and largest accounts receivable management companies in the United States.
Sectors of specific concentration for GC Services include banking and financial services, cable and satellite, consumer goods, computer manufacturing, retail, telecommunications, utility, automotive, mortgage, student loans, and various governmental sectors. GC Services was founded in 1957 by Jerold Katz as a collection operation dedicated to accounts receivable management for the oil and gas industry. Today the company has nearly 8,000 employees and over 24 call centers. GC Services is headquartered in Houston (www.gcserv.com).
“I’ve known Owner Resource Group for several years through their involvement in the ARM and BPO industries,” said Frank Taylor, President and CEO of GC Services. “ORG has a track record of facilitating growth while supporting management’s focus on operational execution, which means GC will continue to provide superior customer value. With the current executive management team intact, this makes ORG the perfect partner for GC.”
“We look forward to our partnership with GC and its management team,” said ORG Managing Director Jon Gormin. “GC has an outstanding track record of growth, compliance and customer service which ORG looks forward to supporting. The company is well positioned for expansion while continuing to serve their outstanding customer base.”
Owner Resource Group invests in companies with revenues greater than $15 million. Sectors of interest include manufacturing, distribution, and niche services. The firm is based in Austin, TX (www.orgroup.com).
© 2016 PEPD • Private Equity’s Leading News Magazine • 1-13-16