Staple Street Capital Acquires iQor’s International Logistics and Product Service Assets

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.

About iQor

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.

Contacts

Media:
Ivy Technology
Mitch Lewis
marketing@ivytech.com

Staple Street Capital
Hootan Yaghoobzadeh
info@staplestreetcapital.com

Stephen D. Owens
info@staplestreetcapital.com

iQor
Robert Constantine
robert.constantine@iqor.com

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