HCS, the managed services provider with offices in Dublin, Waterford and Cork, has announced it has been acquired by Centric360.
Centric360 is an investment vehicle owned jointly by Pamela Farrell and Brian Larkin, former directors of the Evros Technology Group which was acquired in 2020 by eir. The acquisition will be followed by further investment in HCS throughout 2025, including the expansion of its service portfolio and team.
Over the past 30 years, HCS has become a highly successful managed services business spanning cyber security, cloud, digital transformation and telecoms. HCS has an impressive customer base across financial services, healthcare, hospitality, pharmaceutical, and manufacturing sectors.
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Since 2020, HCS has increased its turnover from €3.5 million to a projected revenue of €8 million in this financial year and more than doubled its team from 24 to 50 employees. The company has also invested heavily in automating its systems across sales and services, providing a foundation for long-term growth and innovation.
Building on this acquisition by Centric360, both Larkin and Farrell see significant scope for further investment in the business in 2025. This will include enhancing and scaling the existing HCS service portfolio and expanding the sales and professional services teams to deliver an end-to-end offering with a best-in-class customer experience.
The vision is to build on the company’s impressive growth and foundations by extending the range of products and services to meet the rising demands of existing and future customers. Furthermore, the business intends to shift its focus beyond the SME and midmarket space to include larger enterprises.
Pamela Farrell and Brian Larkin, owners of Centric360; and Neil Phelan, HCS CEO
To support these plans, HCS will add additional expertise and resources to its experienced team in the coming months. In addition to creating jobs across its three Irish offices, the company will invest in the professional development and progression of the existing team.
The acquisition also includes the purchase of the HCS headquarters in Waterford, where the business intends to strengthen its presence further. The current HCS owners and directors – Seán Hegarty, Dan Hegarty and Neil Phelan – will continue in their vital roles, contributing significantly to HCS's ongoing growth and future success.
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Meanwhile, Larkin will become Chairman and Farrell will assume the role of Managing Director. Together they bring extensive knowledge to the organisation, having been key contributors to building the Evros Technology Group to revenues of over €100 million and a 400-strong team.
Speaking about the acquisition, HCS CEO Neil Phelan said: “It was important for us to join forces with people who understand our brand and history. Together, we hope to continue driving growth not just for the business but for our employees and customers too. Pamela and Brian bring extensive industry experience, strong professional reputation, and a proven track record in leadership and business expansion. Combined with our high-quality services, excellent client relationships and talented team, we look forward to elevating HCS to the next level.”
Dan Hegarty, Head of Sales, HCS; Pamela Farrell and Brian Larkin, owners of Centric360; Neil Phelan, CEO, HCS; and Sean Hegarty, Head of Operations, HCS
Pamela Farrell added: “It was clear from the moment we met with HCS that we shared similar values and vision for business. With the alignment of culture and expertise, we look forward to further investing in operations, expanding the company’s capabilities, and bolstering the team. In turn, we intend to open up new opportunities while building on the organisation’s existing legacy of delivering transformational, innovative services which customers can trust.”
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