Irish IT company HCS acquired by investment firm Centric360 [Video]

Waterford-based managed IT services provider HCS has been acquired by Centric360, the investment vehicle jointly owned by Pamela Farrell and Brian Larkin. Terms of the deal were not disclosed.

Centric360 plans to invest in HCS next year to expand its service portfolio and staff.

HCS currently offers cybersecurity, cloud, digital transformation and telecoms services to clients in financial services, healthcare, hospitality, pharmaceutical, and manufacturing sectors. 

HCS, which has offices in Waterford, Dublin and Cork, has more than doubled its annual turnover from €3.5m to €8m since 2020.

The company has also doubled its employee numbers from 24 to 50, and invested heavily in automating its sales and services systems.

Farrell and Larkin, who are former directors of Evros Technology Group, which was acquired by Eir four years ago, intends to enhance and scale HCS’s service portfolio and expand its sales and professional services teams to deliver an end-to-end offering with a best-in-class customer experience.

Their aim …