An affiliate of middle-market private equity firm Staple Street Capital LLC acquired iQor Inc.'s logistics and product service assets in Europe, Asia, South America and Canada, as well as several noncore assets in the U.S.

The transaction will allow iQor to focus on growing its integrated business process outsourcing operations in North America. The company will keep its logistics and product service clients that support 450 million consumers in the U.S. and Mexico.

Following the deal, the divested assets will be combined into a independently operated business to be known as Ivy Technology. The new company will provide aftermarket lifecycle care solutions for electronic equipment to the electronics, computer, telecommunications, medical device, and internet of things industries.

Financial details of the transaction were not disclosed.

IQor is a managed services provider of technology-enabled BPO solutions focused on customer engagement.