Owners Resource Group, a private equity firm in Austin, Texas, acquired Gila Corp., a large municipal and government debt collector through its Municipal Services Bureau arm, according to a press release.
Terms of the deal, which closed July 31, were not disclosed. Gila’s senior management team will remain with the company, including CEO Bruce Cummings.
"This relationship will be a significant positive for our employees and customers," according to Cummings. "With the full strength of ORG’s capital and resources behind us, we intend to accelerate our service offering to exceed the needs of our clients while maintaining the high standards of quality and customer service our clients have come to expect."
Gila has 400 employees and also is based in Austin, Texas. Tne company, founded in 1991, focuses on government collections and the financial services market.