Ricoh to acquire PFH Technology Group
April 4, 2023
Ricoh has reached an agreement to acquire PFH Technology Group (PFH), a provider of IT infrastructure, cloud and managed workplace services.
Founded in 1985, PFH is an integrated digital infrastructure and managed services company in Ireland. Headquartered in Cork, PFH also has offices in Dublin and Galway. Through its workforce of over 750 employees, it supports more than 1,000 customers with IT and communications technology needs. PFH has established longstanding relationships with industry leading vendors and secured the accreditation with partners such as AWS, Citrix, Commvault, Dell, Hewlett-Packard Enterprise (HPE), HP Inc., Lenovo, Microsoft, Pure Storage and VMware.
PFH was founded by its current Chairman and shareholder, Paul Hourican. Hourican is stepping down from his role and will remain in an advisory capacity to the business.
Ricoh said: “The acquisition will see Ricoh customers benefit from PFH’s broad experience in digital infrastructure and managed services, as well as the extensive capabilities and expertise of its people.”
Following completion of the deal, PFH will continue to operate as a separate entity.
Alberto Mariani, Senior Vice President, Digital Innovation, Ricoh Europe, said: “This important acquisition reaffirms Ricoh as a leading workspace value-added integrator. We are seeing significant customer demand for a single partner who can offer the full spectrum of infrastructure, professional and managed services. Our ability to meet these requirements is strengthened further by welcoming PFH’s talented team to the Ricoh family. The high concentration of leading multinational businesses that have chosen Ireland as the European hub for their operations makes this a particularly exciting time for both businesses. We look forward to bringing customers’ digital transformation ambitions to life through our shared customer-first approach.”
Paul Callaghan, CEO, PFH, added: “Reaching this important date in our history is testament to the hard work of everyone who has contributed to PFH since our inception over 38 years ago. The scale of Ricoh’s capabilities means that our customers can evolve their IT services and realise their digital transformation ambitions at pace and with great support. Our collective expertise, commitment and aligned culture ensures our customers are ideally placed for future success.”
The acquisition is expected to complete in the coming month, subject to receiving clearance from the relevant competition authorities in Ireland and completion of other customary closing conditions.
PFH and its shareholders were advised by an EY Corporate Finance team led by Robert Hussey, Ronan Murray, Michael Murphy and Antoine Daubigny.
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