Ricoh, the multinational imaging and electronics company, has finalized its acquisition of PFH Technology Group, an established IT infrastructure, cloud, and managed workplace services provider based in Ireland. PFH was founded in 1985 and has more than 750 employees who support over 1,000 customers. The company has secured high-level accreditations with major tech industry vendors, contributing to its respected reputation.
This acquisition will offer mutual benefits for Ricoh and PFH customers. Ricoh customers will gain from PFH’s extensive digital infrastructure and managed services expertise. Conversely, PFH customers can now leverage Ricoh’s global footprint, financial strength, and comprehensive digital services portfolio.
Even after the acquisition, PFH will continue to operate as an independent entity. The founder of PFH, Paul Hourican, will step down from his role, taking an advisory position instead. Alberto Mariani, Senior Vice President, Digital Innovation at Ricoh Europe, sees this acquisition as a reaffirmation of Ricoh’s standing as a leading workspace value-added integrator. Paul Callaghan, CEO of PFH, expressed optimism about the future prospects for their customers given the expanded capabilities brought by Ricoh.
This acquisition was subject to approval from Irish competition authorities and other standard closing conditions. EY Corporate Finance, led by Robert Hussey, Ronan Murray, Michael Murphy, and Antoine Daubigny, provided advisory services to PFH and its shareholders. With the deal concluded, both companies are keen to facilitate digital transformation for their customers, strengthening their service capabilities.
SOURCE Industry Analysts Inc.