2. Juni 2023
This significant acquisition sees Ricoh substantially grow footprint in Ireland, enabling the company to boost customers’ digital transformation journeys.
We have advised Ricoh, a leading workspace value-added integrator, on its agreement to acquire PFH Technology Group.
Based in Ireland, PFH is a leading provider of IT infrastructure, cloud and managed services. Founded in 1985, PFH is headquartered in Cork, and 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.
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.
Commenting on the acquisition, Partner Philip Shepherd said: “We're delighted to have advised Ricoh on this hugely exciting deal for the business. Helping clients to navigate high profile, complex, cross border acquisitions is second nature to us, as is advising on M&A deals in the tech sector. The parties took a very collaborative approach to making this deal happen and we look forward to seeing what the combined business can achieve in the future. We wish Ricoh and the PFH team every success."
Partner Adam Griffiths commented: “There's a huge opportunity for multinational businesses looking to expand to Ireland as a key part of their global operations. Disruption is still having a significant impact and presenting competitive opportunities for businesses as collaborative and innovative as Ricoh. This makes it a particularly exciting time to advise in the Irish eco-system."
James Brown, Head of Legal at Ricoh Europe commented: “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, and we couldn't have picked a better team to support our goals for expansion in the Irish market. Many thanks to Phil, Ed, Rachel, Loye and all the Taylor Wessing team for their expertise, hard work and commitment in guiding us through this transaction and for doing so in a manner which is consistent with our values. An extra special thank you to Ed for his steadfast support in navigating us through this transaction."
The Taylor Wessing team advising Ricoh was led by Partner Philip Shepherd and Partner Edward Chapman in the UK, and Partner Adam Griffiths and Associate Rachel Mc Causland in Ireland.
Partners Philip Shepherd, Adam Griffiths and Edward Chapman
Associates Rachel Mc Causland and Loye Oyedotun
Commercial Technology & Data:
Partner Graham Hann
Senior Counsel Jo Joyce
Associates Prachi Vasisht and Megan Lukins
Partner Helen Farr
Associate Nadine Simpson-Ataha
Notes to editors:
The is one of the biggest deals done by Ricoh in recent years. The transaction signed a month ago and has now completed after receiving clearance from the relevant competition authorities in Ireland, and on completion of other customary closing conditions.
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 Fulfilment through Work by understanding and transforming how people work so we can unleash their potential and creativity to realize a sustainable future.
For further information, please visit www.ricoh.com
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