Owners Resource Buys Gila

By Darren Waggoner August 05, 2010, 6:23 p.m. EDT 1 Min Read

The municipal and government debt collector Gila Corp. has been acquired by Owners Resource Group, an Austin private-equity company.

The sale closed July 31. Owners Resource did not disclose the price. Gila's senior management team, including Chief Executive Bruce Cummings, is expected to remain with the company.

"This relationship will be a significant positive for our employees and customers," Cummings said in a press release. "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."

Gila, also based in Austin, has 400 employees and focuses on government collections and the financial services market.

Darren Waggoner

Chief Editor, Collections & Credit Risk

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