The IQ Business Group`s supply chain division, IQ Commerce, has been unbundled and rebranded as Volition.
Treacle Venture Partners says it, along with Volition management, will hold the shares in the company, which will now be operated independently from The IQ Business Group.
However, it says the company will continue to focus on its core business - the delivery of business process and information technology solutions in the end-to-end automotive and consumer goods distribution chains.
MD Cobus Rossouw says Volition delivers tailored business process and technology solutions for specific challenges faced by clients, with its key strength being its ability to leverage sustainable value from its industry and process skills.
Treacle partner Konrad Fleischhauer says that as IQ Commerce, Volition earned a reputation for innovation, intelligence and value delivery in its market sector.
"This is a business with tremendous growth potential and its management clearly has the vision as well as the capacity to realise that potential," said Fleischhauer, who is joining the Volition board.
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