Navient to Divest Its Government Services Unit to Gallant Capital

Business and Finance Business and Finance

Wed, December 25, 2024

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Navient to Divest Its Government Services Unit to Gallant Capital

^{Published on 2024-12-25 00:40:47 - MSN}

Navient Corporation NAVI has entered an agreement to sell its Government Services business to an affiliate of Gallant Capital Partners, LLC, a Los Angeles-based investment firm. Navient's Government Services business includes Navient Business Processing Group,

Navient Corporation has agreed to sell its government services unit, known as Navient Government Services (NGS), to Gallant Capital Partners for $450 million. This transaction, expected to close in the second half of 2024, involves NGS, which provides services like loan servicing, asset recovery, and customer relationship management for various government sectors including the U.S. Department of Education. The sale will allow Navient to focus on its core business of education loan management and business processing solutions, while Gallant Capital, a private equity firm, aims to expand its portfolio in government services. The deal includes a long-term servicing agreement ensuring continuity in operations for NGS's clients.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/navient-to-divest-its-government-services-unit-to-gallant-capital/ar-AA1wrg9q ]

N@N

Navient to Divest Its Government Services Unit to Gallant Capital