PBS Group enlists $3 million investment for aggressive growth in Costa Rica

Posted February 19, 2020

PBS Group enlists $3 million investment for aggressive growth in Costa Rica

GrupoPBS, a public company, with mostly Jamaican capital with a presence in 16 countries in the Central America, Caribbean and Colombia region, plans an aggressive expansion strategy in Costa Rica, with an investment of more than $3 million. The money will go towards the expansion of its facilities in San Rafael de Escazu, purchase of equipment and the start of operations of Hightech Corporation (HTC), a company that the Group acquired last year. HTC will have its unique Oracle learning center at the headquarters that PBS will repair.

“In an environment of economic pessimism, it is a very important message for a multinational to invest in the way we are doing”, said Pedro Paris, CEO of Grupo PBS.

In 2018, PBS was awarded contracts with the government worth ¢22 billion.

Investments will also be accompanied by job creation for a company that has grown up to 50% on its chart in recent years, strengthening the personal and professional development of its employees, focused on the maximum satisfaction of the current needs of its customers.

The company does not rule out more strategic acquisitions like the ones it recently signed by HTC, where it draws attention to Dubai Telecom’s high-rise customers. It also does not rule out its expansion into more countries. “We are defining what are the minimum standards for our regional customers, and from that and what the competition offers, we started reinventing ourselves,” explained Mr. Paris, Costa Rican with 19 years of living abroad and nine years in charge of the Multinational. This reengineering is consistent int the conglomorate, which works with recognized brands such as Xerox, Cisco and Oracle in its six business areas: Printing, Networking, Security, Technology Services, Professional Services and Advanced Services.

Costa Rica comprises the most important operation of the 16 countries by market size and the one that has grown the most in the last years of the 26 offices in which PBS operates. In 2018 the country generated revenues of more than $26 million for Group PBS, an increase of 30% compared to the previous year. That same year the entire group had revenues close to $180 million, mainly generated by services sale. Xerox’s potential acquisition of HP’s printer division could further drive group results. Since trading on the Jamaican stock exchange, two years ago, the value of PBS shares has grown by 50%, making it an attractive company for investors.

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