Navient To Divest Government Services Business To Gallant Capital Partners

(RTTNews) - Student loan servicer Navient Corp. (NAVI) announced Monday that it has reached an agreement to sell its Government Services business to an affiliate of Los Angeles-based investment firm Gallant Capital Partners, LLC. The terms of the deal were not disclosed.

Navient's Government Services business includes Navient Business Processing Group, Duncan Solutions, Gila (D.B.A Municipal Services Bureau), Pioneer Credit Recovery and Navient BPO.

Approximately 1,200 employees will be included in the transaction, which is expected to close in the first quarter of 2025, subject to certain conditions.