Acquisition Accelerates the Company’s Growth Opportunities in CX and Enhances iQor’s Performance-Driven Culture
FT. LAUDERDALE, Fla., May 15, 2024--(BUSINESS WIRE)--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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Contacts
Robert Constantine
SVP Marketing and Communications
robert.constantine@iqor.com
Jiaeh Kim
info@millpoint.com
212-416-5800