Connect with us

iQor Completes Sale of International Logistics and Product Service Assets

Published

on

Reading Time: 3 minutes

Sale of certain assets enables company to focus on growing Integrated
North American BPO platform

ST. PETERSBURG, Fla.–(BUSINESS WIRE)–iQor, a managed services provider of customer engagement and
technology-enabled BPO solutions, announced today that it has completed
the sale of its logistics and product service assets in Europe, Asia,
South America, Canada and certain non-core assets in the United States.
This transaction allows iQor to focus on its rapidly expanding
end-to-end customer strategy which is a key component of supporting
North American BPO customers.

Under the agreement, all logistics and product service operations in
Europe, Asia, South America, Canada and certain non-core assets in the
United States have been bought by an affiliate of Staple Street Capital,
a leading middle-market private investment firm. Based on a foundation
of executional excellence and innovation, the divested business will be
renamed Ivy Technology and will be an independently operated business
focused on growing its now standalone business. This transaction is in
line with iQor’s integrated North American BPO platform strategy, which
is inclusive of Logistics and Product services.

“Today I am pleased to announce that we have strengthened our integrated
North American BPO platform strategy through this transaction,” said
Gary Praznik, President and CEO of iQor. “Our North American Logistics
and Product Services solution remains an integral part of our five
pillars of end-to-end customer support. The transaction combines iQor’s
award-winning customer support capabilities with select logistics and
product services assets that complement the full customer life-cycle.
This rationalization of services enables iQor to apply focus on areas of
high growth with existing and future customers. Our tech-enabled BPO
platform is unique as it is the only platform that provides the customer
a complete end-to-end solution and remains a powerful value proposition
for many of our clients, who increasingly use more than one of iQor’s
services.”

iQor’s North American BPO Business platform will retain strategic
logistics and product service customers who partner with the company
across its pillars of service including; Omni-channel, technical
services, revenue generation, analytics-enabled retention and logistics
and product services. The company will use its remaining logistics
footprint to support 450 million consumers in the United States and
Mexico, powered by innovative artificial intelligence and machine
learning platforms. Services offered will include; in warranty and out
of warranty service, screening, product testing, L1 – L4 repair,
component testing & repair, kitting/packing, asset recovery & recycling,
service parts logistics, supply chain sourcing, planning, procurement,
BGA capabilities and quality assurance.

In total, the company will have approximately $1.0 billion in revenue,
more than 45,000 employees, and operations in 8 countries around the
world supporting over 100 clients.

Increasingly, clients are actively seeking companies that offer support
options across the customer life cycle. iQor’s uniqueness in the BPO
space offers such a solution by offering complete end-to-end customer
management. As support complexity increases, iQor is there, leading the
way in Customer Experience, Net Promoter scores and helping its clients
vie for and win JD Powers Awards in Customer Satisfaction and more.

About iQor

iQor is a managed services provider of customer engagement and
technology-enabled BPO solutions. With 45,000 employees in 8 countries,
we partner 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. Our award-winning technology,
logistics, and analytics platforms enable us to measure, monitor, and
analyze brand interactions, improve business processes, and find
operational efficiencies that lead to superior outcomes for our partners
across the customer and product life cycles. For more information,
please visit us at www.iqor.com
or follow us at www.twitter.com/iqor.

About Ivy Technology

Formed as a product of the transaction described herein, 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 over 2,900 employees, the
Company has a long history of innovation, quality and customer service.

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.

Contacts

Robert Constantine
robert.constantine@iqor.com

Ivy Technology
marketing@Ivytech.com

Staple Street Capital
info@staplestreetcapital.com

Cannabis

IMCC Appoints Yaron Berger as CEO of IMC Holdings

Published

on

Photo source: deutschlandfunkkultur.de

 

IM Cannabis Corp. (the “Company” or “IMCC”) (CSE: IMCC), one of the world’s pioneering medical cannabis companies with operations across Europe, is pleased to announce the appointment of Yaron Berger as Chief Executive Officer of I.M.C. Holdings Ltd. (“IMC“), the Company’s wholly-owned operating subsidiary in IsraelOren Shuster will remain the Chief Executive Officer of IM Cannabis Corp.

Mr. Berger brings more than 10 years of experience in various senior roles both in public and private sectors, leading large-scale operations. Most recently, Mr. Berger was the Chief Executive Officer of Telepharma Ltd. (“Telepharma,” doing business as epharma), a leading wholesaler, direct marketer of prescription drugs and chain of pharmacies in Israel. At Telepharma, among other accomplishments, Mr. Berger re-branded its digital platform and transformed the customer experience. As an early entrant into the medical cannabis sector, Mr. Berger also established Greenpharma under Telepharma, a full-service distributor, patient counselling service provider and online resource for medical cannabis patients in Israel. Prior to his experience in the pharmaceutical sector, Mr. Berger served as the Chief Operating Officer of the National Police Academy and spent over 20 years in the Israeli Air Force, most recently as a Lieutenant Colonel.

Oren Shuster, Chief Executive Officer of IMCC said “Yaron is uniquely qualified to lead our Israeli operations under the new medical cannabis regulatory regime, which requires a high level of engagement and education for the country’s pharmacists on the benefits of medical cannabis. Yaron was an early mover in identifying the opportunity in medical cannabis and we are very excited to benefit from his expertise in the pharmacy channel to maintain IMC’s status as a leading medical cannabis brand in Israel.”

“I am thrilled to be joining the IMC team, who I have known as a leader in the medical cannabis market in Israel over the past ten years,” said Mr. Berger. “The IMC brand is synonymous with quality and innovation. The new medical cannabis reform in Israel presents a significant opportunity for the Company and the IMC brand to further elevate its market position as the preferred medical cannabis brand for physicians, pharmacists and patients.”

 

SOURCE IM Cannabis Corp.

Continue Reading

Cannabis

LCBO’s bottom line proves privatized alcohol sales a bad idea: OPSEU’s Thomas

Published

on

Photo source: LCBO.com

The LCBO’s latest profits show the Crown corporation’s value to the people of Ontario, OPSEU President Warren (Smokey) Thomas said Friday.

In its 2018/2019 annual report released Thursday, the LCBO is reporting earnings of $2.37 billion on total revenue of $6.39 billion.

Thomas said those profits go to the provincial government and pay for vital public services like health, education and highways.

“This is why the Ford government should rethink allowing corner stores and grocery stores to sell more alcohol,” said Thomas.  “Is saving folks a 10 minute drive in some cases worth jeopardizing their health care?”

OPSEU represents LCBO workers and Thomas says these frontline professionals deserve the credit for the corporation’s continued success.

“The reason the LCBO is the gold standard in selling alcohol responsibly is because of OPSEU members who make sure alcohol isn’t sold to minors or intoxicated people,” said Thomas.

“They also provide customer service that is second to none and they’re the ones who have made the LCBO a success story.”

As he read the LCBO report, OPSEU First Vice-President/Treasurer Eduardo (Eddy) Almeida reflected on the Ford government’s decision to take the sale of legalized cannabis away from the Crown Corporation.

“Think of what the LCBO’s profits would have been if Premier Ford hadn’t scrapped the plan of the former Liberal government?” said Almeida.   “I’ve put together a lot of budgets and I know how tough an exercise it is.”

“It still makes me shake my head that a government that claimed it had catastrophic financial problems would turn down massive amounts of revenue and go on the misguided course that the Conservatives took. Really? Wow.”

Almeida says municipalities who voted to opt out of Doug Ford’s foolish cannabis privatization plan should stand firm and demand a responsible plan.

“The LCBO continues to prove it’s the best option to keep controlled substances out of the hands of minors,” said Almeida.  “Municipalities and Ontarians in general should continue to demand a responsible plan and just say no to Doug’s. After all, a little competition wouldn’t be a bad thing would it?”

SOURCE Ontario Public Service Employees Union (OPSEU)

Continue Reading

Cannabis

Base Oil Market Worth $39.6 Billion by 2024 – Exclusive Report by MarketsandMarkets™

Published

on

According to the new market research report Base Oil Market by Group (Group I, Group II, Group III, Group IV, Group V), Application (Automotive Oil, Industrial Oil, Hydraulic Oil, Grease, Metalworking Fluid), Region (North AmericaEuropeAsia PacificSouth America, MEA) – Global Forecast to 2024″, published by MarketsandMarkets, the Base Oil Market is projected to grow from USD 33.7 billion in 2019 to USD 39.6 billion by 2024, at a CAGR of 3.3% from 2019 to 2024. The growing demand for high-grade oils in the automotive industry, as well as the increasing GDP in Asia Pacific driven by increasing industrial activities are key factors fuelling the growth of the base oil market across the globe.

Speak to Our Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=203695851

Browse in-depth TOC on “Base Oil Market”
150 – Tables
110 – Figures
480 – Pages

View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/base-oil-market-203695851.html

Group II segment to lead the base oil industry from 2019 to 2024

Based on group, the base oil market has been segmented into Group I, Group II, Group III, Group IV, and Group V. The Group II segment accounted for the major share of the market in 2018. Group II base oil can be employed in a multitude of applications, such as marine and gas engines, in trunk piston engine oils, and other applications in the base oil industry. The high consumption of Group II base oil is mainly attributed to its higher performance and affordability in comparison to the other groups of base oil. Thus, the Group II segment is likely to lead the market during the forecast period.

Automotive oil application segment to lead the base oil market during the forecast period

Based on application, the automotive oil segment led the base oil industry in 2018. This segment is also expected to witness significant growth during the forecast period owing to the rise of the automotive sector in developing countries, such as India and China. Population growth in the Asia Pacific region is increasing the demand for automobiles, which is, in turn, driving the market for automotive oils.

Request Free Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=203695851

Asia Pacific base oil market projected to witness the highest CAGR

Among regions, the Asia Pacific base oil market is projected to register the highest CAGR from 2019 to 2024. IndiaChinaIndonesia, and Japan are key countries contributing to the increased demand for lubricants, and in effect base oil, in this region. Increasing GDP led by the rising industrial activities in Asia Pacific has increased the demand for base oil in the region. The growth of transportation, power generation, mining, and other sectors is also responsible for the rise in demand for base oil in the Asia Pacific region.

Chevron Corporation (US), Exxon Mobil Corporation (US), S-OIL Corporation (South Korea), Motiva Enterprises LLC (US), SK innovation Co., Ltd. (South Korea), Royal Dutch Shell plc (Netherlands), Neste Oyj (Finland), AVISTA OIL AG (Germany), Nynas AB (Sweden), Repsol S.A. (Spain), Ergon, Inc. (US), Calumet Specialty Products Partners, L.P. (US), H&R Group (Germany), Sinopec Corp. (China), PetroChina Company Limited (China), Saudi Aramco (Saudi Arabia), Abu Dhabi National Oil Company (ADNOC) (UAE), PT Pertamina (Persero) (Indonesia), Phillips 66 (US), Petroliam Nasional Berhad (PETRONAS) (Malaysia), GRUPA LOTOS S.A. (Poland), Sepahan Oil (Iran), GS Caltex Corporation (South Korea), and Hindustan Petroleum Corporation Limited or HPCL (India) are some of the leading players operating in the Base Oil Market. These players have adopted the strategies of agreements, expansions, new product launches, acquisitions, collaborations, contracts, investments, and divestments to enhance their position in the market.

Bundle Reports:

  1. Process Oil Market
  2. Rubber Process Oil Market

Get Special Pricing on Bundle Reports:

https://www.marketsandmarkets.com/RequestBundleReport.asp?id=203695851

Browse Adjacent Markets: Bulk Chemicals and Inorganics Market Research Reports & Consulting

Related Reports :

Lubricants Market

by Base Oil (Mineral Oil, Synthetic Oil, Bio-based Oil), Product Type (Engine Oil, Hydraulic Fluid, Metalworking Fluid), Application (Transportation and Industrial lubricants), Region – Global Forecast to 2024

Industrial Lubricants Market by Base oil (Mineral Oil, Synthetic Oil, Bio-based Oil), Product Type (Hydraulic Fluid, Metalworking Fluid), End-use Industry (Construction, Metal & Mining, Power Generation, Food Processing), Region – Global Forecast to 2024

 

SOURCE MarketsandMarkets

Continue Reading

Trending Online

Grassnews is a news publishing website which digests / hand picks the latest news about the cannabis industry, and serves them to you daily.

Contact us: pressroom@grassnews.net

© Grassnews.net 2019 - part of PICANTE Media. All rights reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania