Milwaukee-based Duncan Solutions has been acquired for $80 million by Wilmington, Delaware-based Navient.
Duncan Solutions provides transportation revenue management for municipalities and toll authorities through the use of technology-enabled products for customer service, billing, citation management, asset recovery and transportation database services. It was founded in 1936 and has about 250 employees. Duncan’s annual revenue is about $55 million, and it has clients in about 30 states.
Once integrated with Navient, Duncan’s current management team will continue to lead the operations from their existing offices in Milwaukee and elsewhere.
“For the past year, we have been focused on expanding our business and enhancing the value we provide to our clients and partners through our technology and services solutions,” said Tim Wendler, chief executive officer of Duncan. “In Navient, we identified a true partner that is committed to delivering outstanding service for our clients and customers they serve. Navient is enthusiastic about our market and our strategy, and we are very excited to be part of the Navient team.”
Navient provides business processing services to federal, state, municipal, court and toll clients. By adding Duncan, the company plans to expand its municipal and toll market offerings and enhance the capabilities of the Gila subsidiary it acquired in 2015.
“We are pleased to align with a leader in the field with a proven track record of innovation and service,” said John Kane, group president, business processing solutions at Navient. “Duncan brings many complementary services that round out our suite of offerings for public sector clients. The transaction continues to execute on Navient’s business plan to grow and diversify our services beyond the education space. We welcome our new Duncan colleagues, and look forward to continuing to provide exceptional customer service to our clients and their consituents.”
