Centrica360 acquires Waterford-based managed services company HCS

An investment company owned by former Evros Technology Group directors Pamela Farrell and Brian Larkin has acquired Waterford-based managed services provider HCS for an undisclosed sum.
Centric360 plans to invest in and expand the business in the coming year, widening its service portfolio and hiring more staff in a bid to build on the company’s growth in recent years.
Ms Farrell and Mr Larkin also plan to target new markets, moving beyond the current focus on small and medium-sized enterprises and midmarket companies to larger enterprises.
Established 30 years ago, HCS now has three offices across Ireland, including its Waterford headquarters, which is included in the sale, and offices in Dublin and Cork. It employs 50 people, and since 2020 has doubled turnover to a projected €8 million this year.
Under the deal, current HCS owners and directors Seán Hegarty, Dan Hegarty and Neil Phelan will remain in their roles with the company, while Mr Larkin will be appointed chairman and Ms Farrell will become managing director.
“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,” HCS chief executive Neil Phelan said.
“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.”
Mr Larkin and Ms Farrell were part of the executive team that sold Evros Technology Group to Eir in 2020 for €80 million. The business is now part of the Eir Evo division.
“It was clear from the moment we met HCS that we shared similar values and vision for business,” Ms Farrell said.
“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.”