DUBLIN-BASED office supplies and equipment companies Bryan S Ryan and Office Evolutions Group are merging in a €15 million deal.
The merger will create a new company, yet to be named, with a combined turnover of more than €25 million and 101 employees.
Brian Whyte, managing director of Office Evolutions, the smaller of the two companies, will become chief executive of the new firm. Gary Rafter, managing director of Bryan S Ryan, and the company's chairman Tom McCormick are departing the business.
Mr Whyte said the merged company was aiming to make profits of €2 million next year.
Mr Rafter and Mr McCormick,each own 25 per cent of Bryan S Ryan and will receive part of the €15 million investment for their shares. The remainder will be invested in the new firm. Mr Whyte said that, due to a confidentiality agreement, he was unable to say how much they were receiving.
Mr Whyte and Gerry Cheung, both shareholders of Office Evolutions, and the remaining stakeholders in Bryan S Ryan - Michael Cox, David Taylor, Adrienne Prendergast, Jim Hand and Trevor Atkins - will become shareholders and directors of the new company.
Mr Whyte will be the largest shareholder of the merger firm.
Bryan S Ryan was set up in 1948 and was originally based on Merrion Road before moving to its current location in Tallaght. The company employs 64 people.
Office Evolutions was established in 1996. The Blanchardstown-based firm employs 37 staff.
Both companies sell office equipment, supplies and furniture, and advise businesses on reducing printing costs with new systems.
Mr Whyte said that there would be no job cuts as a result of the merger and that the new company would be hiring more staff for its new commercial print division.
Office Evolutions is Canon Ireland's biggest re-seller, while Bryan S Ryan distributes for office equipment manufacturer Kyocera.
Mr Whyte said he approached Mr Rafter in January with the idea of merging as he felt his company had reached "certain milestones" after buying Wexford company, Cantec (Southeast), in 2006.
"This was the next step," said Mr Whyte. "It made sense to put the two businesses together."
