Austin, Texas-based Owner Resource Group LLC has acquired GC Services LP, a Houston-based accounts receivable management company that was founded in 1957. Terms of the deal were not disclosed.
GC Services partners with companies across a wide range of industries, including automotive, mortgage, student loans, banking and financial services, cable, consumer goods, computer manufacturing, retail, telecommunications, utility and various governmental sectors. GC Services is known as one of the country’s largest and oldest accounts receivable management firms. Jerold B. Katz founded the company and grew it from a one-man operation.
"I’ve known Owner Resource Group for several years through their involvement in the ARM and BPO [business process outsourcing] industries,” said Frank Taylor, president and CEO at 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 Managing Director Jon Gormin praised GC Services’ track record of growth, compliance and customer service, adding that with nearly 8,000 employees in 24 locations, the company is "well positioned for expansion while continuing to serve their outstanding customer base.”