AUSTIN, Texas — Owner Resource Group, LLC (“ORG”) announced yesterday it has acquired GC Services, LP (“GC Services”), one of the oldest and largest accounts receivable management companies in the United States.
The Austin-based ORG partnered with the management of GC Services to buy the Houston-based accounts receivable management company, which was founded in 1957 by Jerold B. Katz and grew from a one-man operation to an established industry leader.
GC Services is a provider of Accounts Receivable Management (“ARM”) and Business Process Outsourcing (“BPO”) solutions to Fortune 500 companies, premier global financial institutions and large governmental entities. GC Services provides high quality accounts receivable and customer care solutions to meet the specific performance objectives of its clients. GC Services has a strong track record of compliance leadership, customer longevity and satisfaction, and tenured executive leadership.
“We look forward to our partnership with GC and its proven 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. With nearly 8,000 professionals in 24 locations, the company is well positioned for expansion while continuing to serve their outstanding customer base.”
GC partners with companies in a wide spectrum of industries, including banking and financial services, cable and satellite, consumer goods, computer manufacturing, retail, telecommunications, utility, automotive, mortgage, student loans, and various governmental sectors.
“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.”
ORG led the transaction which also received coinvestment from NB Alternatives Advisors LLC, a subsidiary of Neuberger Berman. The transaction closed on December 31, 2015. Terms were not disclosed.
Owner Resource Group, LLC
Owner Resource Group is an Austin, Texas based private investment firm founded to bring superior outcomes to privately held businesses. The company makes investments that enable business owners and management teams the ability to pursue their objectives and accelerate the growth of their companies in a disciplined manner. ORG appreciates an owner’s need for fairness, certainty, flexibility and confidentiality when considering a transaction. After a transaction, the ORG philosophy is to align our interests with management to support the existing culture and the continued growth.
The firm is most helpful to businesses with the following aspirations:
- Business owners hoping to achieve a full or partial exit
- Businesses looking to expand their capabilities, offerings or geographic reach
- Management teams that would like to establish or increase their ownership in a business