PCH International

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PCH International
Private
Founded1996;23 years ago (1996) in Ireland
FounderLiam Casey
Headquarters
Cork (city)
,
Ireland
RevenueUS$ 1 billion (2014) [1]
Number of employees
604 (2016) [2]
Website pchintl.com

PCH is a global custom design manufacturing company that works with companies to design, engineer, develop, manufacture, pack out, fulfill and distribute products as well as manage supply chains. [3] [1] [4] The company was founded in Ireland in 1996 by entrepreneur Liam Casey. [4]

Ireland Island in north-west Europe, 20th largest in world, politically divided into the Republic of Ireland and Northern Ireland (a part of the UK)

Ireland is an island in the North Atlantic. It is separated from Great Britain to its east by the North Channel, the Irish Sea, and St George's Channel. Ireland is the second-largest island of the British Isles, the third-largest in Europe, and the twentieth-largest on Earth.

Contents

PCH's corporate headquarters are located in Cork, Ireland with operational headquarters in Shenzhen, China and U.S. headquarters in San Francisco, California. [5]

Services

PCH offers product design engineering and development services as well as manufacturing, pack out and fulfillment, and distribution services. [6] For startups, PCH has one division - Highway1 - that works with entrepreneurs to minimize the risk of market entrance and help them scale production. [7]

PCH China Direct assists companies looking to export to China or expand existing operations. In late 2015, PCH International laid off 1,500 workers in China, nearly its entire workforce, as it moved away from mass production of products into more niche markets. [8]

Highway1

In June 2013, PCH launched Highway1, a four-month accelerator program. [9]

Funding and expansion

On 7 June 2011, the company announced that it had raised a new round of funding of $30 million. Two new investors, Northbrooks Investments and J. Christopher Burch, and existing investors Norwest Venture Partners, Triangle Peak Partners, Cross Creek Capital, and Fung Capital participated in the round. [10]

Norwest Venture Partners (Norwest) is a venture and growth equity (GE) investment firm with more than $7.5B in capital under management. The firm targets early to late-stage venture and growth equity investments across several sectors, including cloud computing and information technology, Internet, software as a service, business and financial services, consumer and healthcare. Headquartered in Palo Alto, California, Norwest has offices in San Francisco and subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel. The firm has funded more than 600 companies since inception. As of early 2018, the firm has approximately 140 active companies across its venture and growth equity portfolio.

In 2011, the company acquired TNS Distribution, [11] a European distributor of consumer electronics products and accessories for an immediate payment of €6m (US$8.67m) and an earnings-based payment of €5m (US$7.22m) over 3 years, based on the performance of TNS Distribution.[ citation needed ]

On 15 June 2012, the company announced an agreement to acquire Lime Lab Inc., [12] a Silicon Valley-based product development consultancy.

On 3 March 2015, PCH announced that they had acquired Fab (website), a design e-commerce platform, for an undisclosed sum. [13] The purchase price was later revealed to be $15 million, a huge drop in valuation for the distressed internet company. [14]

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References

  1. 1 2 Hoge, Patrick (15 January 2015). "Bay Area hardware startups get gateway to China's manufacturing universe in Potrero Hill". San Francisco Business Times. Retrieved 15 January 2015.
  2. ↑ Reference 2
  3. ↑ Rowan, David (14 February 2014). "The man who made geography history". Wired. Retrieved 14 February 2014.
  4. 1 2 Vartan, Starre (1 January 2015). "Game Changers 2015: Liam Casey". Metropolis Magazine. Archived from the original on 30 January 2015. Retrieved 1 January 2015.
  5. ↑ "PCH has offices all over the world".
  6. ↑ "PCH".
  7. ↑ Wasik, Bill (27 June 2014). "The Man Making Silicon Valley Go Crazy for Hardware". Wired. Retrieved 27 June 2014.
  8. ↑ "PCH to lay off 1,500 in China as manufacturing boom shifts gear - Independent.ie".
  9. ↑ Higginbotham, Stacey (25 June 2013). "Meet Highway1, a hardware incubator that wants to take startups to China and back". Gigaom. Retrieved 25 June 2013.
  10. ↑ Robin Wauters, TechCrunch. "Electronics Manufacturing Company PCH International Raises $30 Million." 7 June 2011. Retrieved 7 Jun 2011.
  11. ↑ PCH International announces acquisition of TNS Distribution Archived 20 June 2012 at the Wayback Machine
  12. ↑ "PCH agrees to acquire Lime Lab Inc. to expand product development services in California".
  13. ↑ Howarth, Dan (3 March 2015). "Fab acquired by PCH to create "the Netflix of design"". Dezeen. Retrieved 3 March 2015.
  14. ↑ "Terms of Service Violation". www.bloomberg.com.
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