HGGC has completed the acquisition of the Aftermarket Services business of Jabil Circuit, Inc. The business will be integrated with HGGC’s portfolio company iQor.
HGGC, a leading middle market private equity firm, today announced that it has completed the acquisition of the Aftermarket Services business of Jabil Circuit, Inc. The business will be integrated with HGGC’s portfolio company iQor to create the first global company with capabilities to address the $40 billion market at the intersection of customer relationship management and product support solutions.
With the addition, which will operate as a separate business unit called iQor Aftermarket Services, iQor has more than $1.5 billion in revenues, and more than 32,000 employees with operations in 17 countries around the world. iQor’s leading customer support capabilities are now bolstered with the new unit’s experience as the premier product support services organization to create a unique service offering that addresses the needs across the customer value chain, from customer care (including sales, technical support, and accounts receivables management) to product diagnostics to repair services.
The combined entity is strongly positioned to provide global clients in a range of industries with integrated support across their supply chain and customer ecosystems. Industries and vertical sectors served include computing, consumer electronics, financial services, government, healthcare, mobility, networking, storage, medical devices, retail, telecommunications and transportation.
“We are very pleased to complete this transformational acquisition for iQor—the largest add-on in the history of our firm,” said Gary Crittenden, Chairman of HGGC. “We’re confident that the enhanced capabilities of the combined company will enable iQor to grow its high-value partnerships with a wider range of global customers, and help them provide integrated solutions that improve the customer service experience.”
Based in Palo Alto, California, HGGC is a leading private equity firm focusing on leveraged buyout, recapitalizations and growth equity transactions in the middle market. The firm seeks to partner with strong management teams and founders to build companies capable of generating sustainable growth. With years of collective deal and operational experience, HGGC brings best practices from private equity and global corporations to help middle market businesses in a wide range of industries outperform the market.