HH goes Dutch with latest buy
Friday, July 2, 2021
HH Global has made a strategic buy on the continent with the acquisition of PaperChainManagement and PrintMediaServices.
The two firms are sister companies, located in the Netherlands.
HH Global said the buy would increase the scale and depth of its business in Benelux.
More than 40 clients will transition to HH Global as a result.
Michael Keen, CEO of HH Global’s Europe business, said the Netherlands was a strategic growth market for the group and he was excited about the client benefits the acquisition would bring to the wider business.
“Legacy PCM and PMS clients include market-leading brands, spanning a broad range of sectors, which will diversify our account portfolio.
“Furthermore, the transition of employees from PCM and PMS will introduce improved expertise across printed materials, paper, consultancy and logistics.”
A HH spokeperson said that PCM and PMS have combined revenues of between €10m-€20m (£8.6m-£17.2m) and less than 20 employees. The businesses act as both a print management organisation and procurement consultancy. "Due to the consultancy side of their business, the underlying managed spend is a (much higher) multiple of the actual reported spend,” the spokesperson said.
Piet Jorritsma, the managing director of PCM and PMS, said the takeover would open up new opportunities for the businesses.
“HH Global is a solid partner that gives us access to new markets and expansion opportunities. In addition to continuity, this cooperation strengthens our position in the European market. We look forward to adding our knowledge and skills to the HH Global organisation.”
HH acquired Adare International last month, which will propel the group's sales to over $2bn.