Ricoh Europe strengthens IT Services capabilities with PFH Technology Group acquisition
Significant acquisition sees Ricoh substantially grow footprint in Ireland, enabling the company to boost customers’ digital transformation journeys
Ricoh Europe, London, 03 April 2023 – Today, Ricoh has reached an agreement to acquire PFH Technology Group (PFH), a leading provider of IT infrastructure, cloud and managed workplace services.
Founded in 1985, PFH is a leading 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 highest level of 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.
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.
PFH customers will benefit from Ricoh’s global footprint, financial strength and integrated service delivery infrastructure. Additionally, PFH customers can access a wide range of Ricoh products and solutions from across Ricoh’s extensive digital services portfolio which encompasses Digital Workspace, Cloud & Infrastructure and Cybersecurity services, as well as Business Process Management and Graphic Communications capabilities.
Following completion of the deal, PFH will continue to operate as a separate entity.
Alberto Mariani, Senior Vice President, Digital Innovation, Ricoh Europe, says: “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, adds: “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.
For more information about Ricoh’s IT Services capabilities, visit www.ricoh-europe.com.
Ricoh is a leading provider of integrated digital services and print and imaging solutions designed to support digital transformation of workplaces, workspaces and optimize business performance.
Headquartered in Tokyo, Ricoh’s global operation reaches customers in approximately 200 countries and regions, supported by cultivated knowledge, technologies, and organizational capabilities nurtured over its 85-year history. In the financial year ended March 2023, Ricoh Group had worldwide sales of 2,134 billion yen (approx. 16.0 billion USD).
It is Ricoh’s mission and vision to empower individuals to find Fulfillment through Work by understanding and transforming how people work so we can unleash their potential and creativity to realize a sustainable future.
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