Mill Point acquires majority stake in iQor for CX growth
FLORIDA, UNITED STATES — Business process outsourcing (BPO) firm iQor has announced an agreement with Mill Point Capital (MPC), a private equity firm specializing in North American investments.
This agreement will see MPC acquire a majority stake in iQor for an undisclosed amount. The deal is expected to close in June 2024.
“This investment will support and grow our customer-centric AI [artificial intelligence] 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.
🚀 Big news at iQor! 🌟 We're thrilled to announce a new chapter in our journey as Mill Point Capital agrees to acquire a majority stake in our company.
🔗 Learn more below! https://t.co/WLKeB9hhRW
— iQor (@iQor) May 14, 2024
Enhancing iQor’s customer service delivery
With 40,000 employees across 10 countries, iQor specializes in advanced customer experience (CX) solutions enhanced by AI and intelligent technologies. The company’s extensive suite of services caters to the rising demands of brands worldwide, ensuring superior service delivery.
“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,” said Richard Summers, Partner at MPC.
iQor secured the 36th spot in the 2024 OA500, the first objective index of the world’s top 500 outsourcing companies. The company is also subscribed to the Outsource Accelerator (OA) Source Partner Program, a powerful tool that helps BPO firms with marketing, sales, and business intelligence.
Driving iQor’s operational improvements
The partnership prioritizes iQor’s strong customer relationships while leveraging technology and human expertise to enhance customer engagement across industries. MPC’s investment is expected to 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,” Summers added. “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 committed to a seamless transition, prioritizing current operations and service levels.
