Staple Street Capital has acquired iQor‘s international logistics and product service assets. No financial terms were disclosed. The acquired businesses will be renamed Ivy Technology. Kirkland & Ellis provided legal advice to both Staple Street Capital and iQor on the transaction.
NEW YORK–(BUSINESS WIRE)–An affiliate of Staple Street Capital L.L.C. (“Staple Street Capital”), a leading middle market private equity firm, has acquired certain logistics and product service assets in a corporate carve-out transaction from affiliates of iQor Holdings Inc. (“iQor”). The acquired businesses include iQor’s operations located in Europe, Asia, South America, Canada and certain facilities located in the United States (the “Company”). In conjunction with the acquisition, the Company will be renamed Ivy Technology.
Built on a foundation of executional excellence and innovation, Ivy Technology is a leading provider of aftermarket lifecycle solutions for electronic equipment. With approximately 2,900 employees across the globe, the Company provides electronic product repair services to many of the world’s leading computer, electronic, telecommunications and medical device companies.
The partners of Staple Street Capital said, “We are excited to partner with Ivy’s management team to provide the strategic and capital resources to enable a long term growth strategy that will now be purely focused around meeting the objectives of our newly formed standalone company. We look forward to further investing in Ivy Technology in order to meet the highest standards of customer care and quality, and to further innovate new value-added services and solutions for customers.”
Kirkland & Ellis served as legal advisors to both Staple Street Capital and iQor Holdings in this transaction.
About Ivy Technology
Ivy Technology is a leading provider of aftermarket lifecycle care solutions for electronic equipment to the electronics, computer, telecommunications, medical device, internet of things (“IoT”) and other industries. With a global footprint across four continents and with approximately 2,900 employees based around the world, the Company has a long history of innovation, quality and customer service. For more information, please visit www.ivytech.com.
About Staple Street Capital
Staple Street Capital is a private equity firm which invests in market‐leading businesses, where it provides strategic oversight, financial resources and access to a network of world class executives to help its portfolio companies reach their full potential. Staple Street Capital has a proven model for value creation and particular expertise effecting corporate carve-outs and other complex transactions. Staple Street Capital is typically seeks to invest $20 million – $75 million of equity per transaction. For more information, please visit www.staplestreetcapital.com.
iQor is a managed services provider of customer engagement and technology-enabled BPO solutions. With 45,000 employees in 8 countries, iQor partners with many of the world’s best-known brands to deliver aftermarket product and customer support solutions that span the consumer value chain, from customer care and receivables management to product diagnostics and repair services. For more information, please visit us at www.iqor.com or follow us at www.twitter.com/iqor.