Mill Point Capital to Acquire Majority Stake in iQor
May 15 2024 - 10:42AM
Business Wire
Acquisition Accelerates the Company’s Growth
Opportunities in CX and Enhances iQor’s Performance-Driven
Culture
iQor, a global leader in managed services and customer
engagement business process outsourcing (BPO) solutions, is pleased
to announce that it has signed an agreement with Mill Point Capital
(MPC), a private equity firm focused on North America investments
in the industrial, business, and IT services sectors to acquire a
majority stake in the company.
The partnership prioritizes iQor’s strong foundation of key
customer relationships while leveraging technology and human
expertise to enhance customer engagement across industries. The
deal is expected to close in June 2024.
"The strength of Mill Point Capital offers an extraordinary
opportunity to accelerate our growth and continue our leadership
across a broad array of customer engagement solutions. This
investment will support and grow our customer-centric AI
capabilities and world-class team while continuing to prioritize
operational excellence, allowing us to expand our reach into new
industries and markets and ensure that, as a trusted partner, our
clients continue to count on us as an integral part of their
operations," said iQor President and CEO Chris Crowley.
With 40,000 dedicated employees in 10 countries, iQor is at the
forefront of providing advanced customer experience solutions
enhanced by AI and intelligent technologies. The company’s
extensive suite of services is tailored to meet the rising demands
of brands worldwide to ensure superior service delivery. MPC’s
investment in iQor will drive substantial value through operational
improvements and strategic growth initiatives.
"Along with our Executive Partners John Meyer and John Harris,
we could not be more enthusiastic about this new partnership,” said
Richard Summers, Partner at Mill Point Capital. “iQor has a proven
track record and innovative approach to business process
outsourcing. With our Executive Partners’ operational expertise and
strategic guidance, we are confident iQor will continue to lead and
redefine the industry standards for customer service. We look
forward to working with Chris and the rest of the iQor team to
execute the key tenets of our Value Creation Plan."
Both companies are excited for future growth and are committed
to a seamless transition that prioritizes current operations and
service levels. iQor will continue to operate under its established
brand, with enhanced support and resources from MPC to drive
innovation and industry-leading growth.
Rothschild & Co acted as exclusive financial advisor to
iQor, and Kirkland & Ellis acted as legal counsel to iQor.
For more information about iQor and its services, please visit
www.iQor.com.
For further details on Mill Point Capital’s investment
philosophy and portfolio, visit www.MillPoint.com.
About iQor
iQor is a managed services provider of customer engagement and
technology-enabled business process outsourcing (BPO) solutions
comprised of 40,000 amazing employees spanning 10 countries. We are
passionate about delivering an outstanding omnichannel customer
experience for brands across the globe. Harnessing intelligent CX
technology and AI-driven innovations that can scale teams anywhere,
our BPO solutions create happy employees and delighted customers.
Our irresistible culture results in a smile with each interaction
to create optimal customer experiences. We enable diverse teams to
scale our BPO digital solutions from local to global to create the
CX experience brands demand to win and keep customers. Read, see,
and hear more at iQor.com.
About Mill Point Capital LLC
Mill Point Capital LLC is a private equity firm focused on
control investments in lower-middle market companies in North
America across the industrials, business services and IT services
sectors. Mill Point’s experienced team of investors and Executive
Partners seek portfolio company value enhancement through rigorous
implementation of transformative strategic initiatives and
operational improvements. Mill Point is based in New York, NY. For
more information, please visit www.millpoint.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514120955/en/
Robert Constantine SVP Marketing and Communications
robert.constantine@iqor.com Jiaeh Kim info@millpoint.com
212-416-5800