iQor

Is iQor publicly traded?
No. iQor is privately held, majority-owned by private equity firm Thomas H. Lee Partners.

Who owns iQor?
Thomas H. Lee Partners holds the controlling stake acquired in 2014. Other investors and some former creditors hold minority positions.

Where is iQor headquartered?
St. Petersburg, Florida, with global operations across the US, Philippines, India, Mexico, and Colombia.

What does iQor do?
Business process outsourcing: customer care, technical support, sales and retention services, plus aftermarket services including device repair and reverse logistics for electronics and telecom clients.

How many employees does iQor have?
Approximately 45,000 across contact centers and operations in multiple countries.

Who is iQor's CEO?
Gary Praznik has served as CEO since 2021.

Vikas Kapoor founded iQor in 1998, building it initially around aftermarket services: repair, refurbishment, and returns processing for electronics manufacturers. The customer care business grew alongside, and the two capabilities became complementary, handling a product's lifecycle from support call to physical repair.

The company scaled aggressively through the 2000s, expanding offshore capacity in the Philippines and India where labor economics favored large contact centers. Private equity firm Thomas H. Lee Partners took a majority stake in 2014, providing capital for further expansion and acquisitions.

A debt restructuring in 2018 reorganized the company's finances after leverage from earlier acquisitions strained the balance sheet; THL retained majority ownership through the process. The company emerged with a cleaner capital structure and continued operating scale.

Since then iQor has invested in AI-enabled service delivery: automation of routine contacts, agent-assist tools, and analytics. Gary Praznik has served as CEO since 2021, leading a strategy that positions the human agent workforce for complex, high-empathy interactions while automating transactional volume, the industry's response to the AI threat facing all large BPOs.

Labor Practices: Large offshore BPO employers face periodic scrutiny over wages, working conditions, and monitoring practices in the Philippines and India. iQor has faced worker-organizing criticism typical of the sector, with no company-defining labor findings.

Debt Restructuring (2018): The financial restructuring was a balance-sheet event rather than misconduct, but it reflected acquisition leverage strains common in private equity-owned services businesses.