Productive Business Solutions Limited (PBS) has taken full ownership of Trinidad Systems Limited (TSL), acquiring the remaining 55 per cent of the Trinidad-based technology company two years after first taking a stake in the business.

The transaction moves PBS from minority investor to sole owner of TSL, which has operated in Trinidad and Tobago for 47 years and provides information and communication technology solutions across the Caribbean.

PBS first entered the company in 2024 when it acquired a 45 per cent equity stake through Trinidad Systems Group Limited. PBS’s 2024 annual report shows that the vehicle acquired 100 per cent of TSL’s operations for TT$107.2 million, or approximately US$15.8 million, with the purchase financed equally through cash and debt. PBS contributed US$3.54 million towards the cash portion of the acquisition.

The value of the latest acquisition, which gives PBS the remaining 55 per cent, was not disclosed.

The move further deepens PBS’s presence in Trinidad and Tobago and gives it full control of a business it had already identified as important to the expansion of its regional technology offering.

Following its initial investment, PBS said TSL was helping it establish payment methods as its seventh business line, broadening a portfolio that already spans imaging, network communications, professional services, advanced services, information technology, and security systems.

TSL will continue to operate as a separate company under its existing brand, with its management team remaining in place. PBS said there will also be no changes to existing customer contracts, services, or support arrangements.

As part of the transaction, TSL CEO Stuart Franco has been appointed chief operating officer for PBS Group’s Eastern Caribbean cluster, widening his responsibilities beyond Trinidad and Tobago.

The cluster includes Guyana, Suriname, Barbados, Antigua and Barbuda, and other member countries of the Organisation of Eastern Caribbean States. Franco will oversee both TSL and PBS operations across those markets and will report directly to PBS Group CEO Pedro Paris.

PARIS… as PBS continues to grow, we are focused on stronger collaboration and enhancing our offering across our seven core business areas

“Our people and our customers remain at the heart of what we do, and that will not change. As we look ahead, this is an important next step for TSL. Being part of the PBS Group means we can now offer our solutions to the Central and South American markets,” Franco said in a press statement.

TSL, founded in 1979 by Nicholas Galt, employs more than 250 people and provides end-to-end ICT solutions across the Caribbean. The company is also a long-standing Xerox distributor in Trinidad and Tobago.

Paris said the acquisition will allow PBS to more closely integrate TSL’s capabilities with its wider regional platform.

“As PBS continues to grow, we are focused on stronger collaboration and enhancing our offering across our seven core business areas,” he said. “As a long-standing Xerox distributor in Trinidad and Tobago, TSL also brings a range of enterprise solutions that complement our existing portfolio.”

The acquisition comes as PBS continues to expand across Central America, the Caribbean, and South America. The company operates in 24 markets and employs more than 3,000 professionals.

PBS has also been using acquisitions to broaden both its geographic footprint and the range of services it offers. In 2024, the group acquired Xerox operations in Peru and Ecuador, while the TSL investment helped it add payment methods as another line of business.

The group has said its broader strategy is centred on providing regional clients with a wider range of technology services through a single platform, while continuing to expand in areas, including cybersecurity, cloud services, managed services, and device-as-a-service.

The full takeover of TSL also comes alongside changes in PBS’s senior leadership. Eduardo Rodriguez was recently appointed group chief financial officer, while Ezequiel Bardas was named chief operating officer for Latin America.

PBS, which is part of the Musson Group, is listed on both the Jamaica Stock Exchange and the Barbados Stock Exchange.