iQor, Formerly IRMC, Acquired by Private Equity Firm

 
iQor, Inc., a BPO and ARM services provider formerly known as IntelliRisk Management (IRMC), announced yesterday that it has been acquired by an entity controlled by Guggenheim Investment Management, LLC (GIM) and the management team of iQor. Terms of the transaction were not disclosed.

GIM has been an investor in iQor since 2004. iQor, which recently announced a name change from IRMC, is a global call center, business process outsource and accounts receivables management service provider that counts 7,000 employees at 19 locations in the U.S., Canada, the United Kingdom, the Philippines, and India.

“This transaction further illustrates the active market for mergers and acquisitions in the ARM industry,” commented Mike Ginsberg, CEO of industry advisory firm Kaulkin Ginsberg Company. “This is also a continuation of the current trend among consolidators of the 1990s and private equity investors.”

According to an iQor press release, call center services represents a $35 billion industry that is expected to grow by 15 percent annually over the next few years. The collections segment of the call center industry is expected to grow especially fast as consumer delinquencies rise in the United States.

“We are strong believers in the growth prospects of the call center industry, in general, and the collections segment, in particular,” said Todd Boehly, Managing Partner of GIM in a release. 

iQor said it would invest over $75 million in call center technology. After the deal, Vikas Kapoor, iQor’s current President and CEO, will remain as President and CEO with GIM controlling iQor’s Board of Directors.