PRGX: Accelerating growth through technological innovation and strategic partnership
Growth stories
PRGX: Accelerating growth through technological innovation and strategic partnership
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05 September 2025
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Private Equity
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North America Fund
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USA
Reading time: 2 minutes
Michael Lustig
CEO of PRGX
Ardian & PRGX | Transforming the future of profit recovery and contract compliance
In this video, Michael Lustig, CEO of PRGX, reflects on the company’s transformation with Ardian’s support, highlighting the exit from non-core businesses, the adoption of artificial intelligence, and a renewed focus on its most impactful service offerings.
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7 petabytes of client data
managed by PRGX
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100 terabytes of new data
and over 40 million emails are ingested each month
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$2 billion + saved for PRGX clients
annually through error detection and recovery
A new chapter with Ardian
A new chapter with Ardian
PRGX is a leading provider in tech-enabled profit recovery and contract management solutions. The company helps clients recover overpayments to suppliers by analyzing large volumes of source-to-pay data. PRGX leverages proprietary AI-driven technology to process and standardize over 7 petabytes of data, saving clients more than $2 billion annually. PRGX serves over 25% of the Fortune 500, and many of these client relationships have span decades.
In 2021, when Ardian considered investing in PRGX, the company had a strong core business, but it suffered from a lack of strategic direction and operational inefficiencies. Ardian saw an opportunity to streamline operations, refocus on core competencies, and drive earnings growth. Since Ardian’s investment, PRGX’s EBITDA has more than doubled, reflecting the success of this strategic repositioning.
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x2 since partnering with Ardian
PRGX’s EBITDA
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$6 to expected $30M
contract management revenue since Ardian’s investment
Investing in technology and people
Investing in technology and people
Following the acquisition, Ardian and PRGX divested non-core businesses and focused on profit recovery and contract management. Investments in technology, such as the Verigon ® Solution Suite and AI capabilities, increased efficiency and scalability. The company also expanded its sales and marketing teams, which resulted in significant growth in contract management revenues and improved cross-selling to existing clients.
At the heart of everything that PRGX does is the data. We understand our customers' source-to-pay data better than they do and better than any of their other service providers.
Looking ahead, PRGX plans to maintain its growth trajectory by further leveraging AI to improve efficiency and client experience. The company is exploring tuck-in acquisitions to complement organic growth and expects continued value creation from recent investments, reinforcing its leadership in tech-enabled source-to-pay data management.
Discover PRGX's transformation story in the video ↑
