Ivy Technology, a Portfolio Company of Staple Street Capital, Announces the Acquisition of PureWrx, Inc.

NEW YORK--(BUSINESS WIRE)--Ivy Technology, a portfolio company of Staple Street Capital, is excited to announce that it has acquired PureWrx, a leading provider of certified pre-owned (“CPO”) programs offered to blue-chip technology Original Equipment Manufacturers (“OEMs”). This strategic acquisition enables Ivy to provide its global customer base with PureWrx’s proven, OEM-aligned service offerings.

Founded in 2012, PureWrx provides OEM-approved equipment buy-back programs, managing the secure and certified disposition of legacy hardware. These programs enable OEMs to gain better control of the aftermarket channel for their products. By recovering residual value from used equipment, OEMs can lower the total cost of ownership of the products they sell, which in turn helps drive new equipment sales. In addition, PureWrx helps OEMs and their end customers meet their sustainability goals.

Matt Hungate, President of PureWrx, commented, "We are excited to join the Ivy team. As a part of Ivy's global platform, PureWrx gains access to deep technical and equipment repair capabilities, an international footprint, and best-in-class operational capabilities that will enable faster service delivery, broader reach, and overall more efficient certified programs for both customers and OEM partners."

Scott Greer, CEO of Ivy, added, "We welcome the PureWrx team and are excited to help them expand their capabilities and customer base. PureWrx's proven ability to develop successful CPO programs with the world’s leading technology companies aligns strongly with Ivy's commitment to its own OEM partners."

The partners at Staple Street Capital stated, “We believe that the synergistic acquisition of PureWrx combines Ivy’s best-in-class operations with an expanded product offering, enabling Ivy to better serve its customers while accelerating PureWrx’s growth trajectory.”

About Ivy Technology

Ivy Technology is a leading global provider of aftermarket services and lifecycle solutions for technology companies. With expertise in repair, refurbishment, reverse logistics, and lifecycle solutions, Ivy Technology enables OEMs and enterprises to grow sales, manage aftermarket channels more effectively, and achieve sustainability goals. For more information see www.ivytech.com.

About Staple Street Capital

Staple Street Capital is a leading private equity firm with approximately $900 million of capital under management and invests in market‐leading businesses where there are transformational opportunities to create value. Staple Street Capital helps companies capitalize on new opportunities to build stronger, more valuable businesses. For more information see www.staplestreetcapital.com.