PBS Group buys 70% stake in Barbados tech firm TSL

The PBS Group, known for distributing Xerox in the Americas, said it has acquired a 70 per cent stake in TSL Barbados Ltd, an IT firm, which adds to its regional technology portfolio.

The financial terms weren’t disclosed. PBS last month also fully purchased its sister company in Trinidad and Tobago, in a deal that originated as a partnership in 2024.

The Corbin family will keep the remaining 30 per cent of TSL Barbados. The company will keep its name and be run locally. Peter Corbin, its long-time chief executive, is retiring, and directors Jake Corbin and Luke Corbin will jointly lead the business. PBS said customers will keep their existing account managers and service teams.

“TSL Barbados is a natural fit for PBS Group, with strong local expertise, established customer relationships and capabilities that complement our portfolio,” PBS Group CEO Pedro Paris said in a release. He said the investment reflects confidence in Barbados and will let the group offer a broader range of integrated technology solutions across its seven business lines.

The deal follows PBS’s recent acquisition of Trinidad Systems Ltd., also known as TSL, whose expertise in payment methods strengthens PBS’s financial-services capabilities. PBS said it has long-standing customer relationships in that sector across the region.

With both TSL businesses under one owner, the Barbados and Trinidad teams will be able to share expertise and pursue new business across PBS’s wider footprint, the company said.

“As part of PBS Group, we gain access to greater regional expertise, resources and technology capabilities,” said Luke Corbin, TSL Barbados’s director of consulting and operations. He said the company’s commitment to its team, partners and customers is unchanged.

Jake Corbin, director of sales and marketing, said the deal “opens an exciting new chapter” for the company, and that it would keep building on the TSL brand.

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PBS Group is an engineering, technology and managed-services provider operating in 24 markets in the Caribbean and Central and South America. It is part of the Musson Group and is listed on the Jamaica Stock Exchange and the Barbados Stock Exchange.

TSL opened in 1979 and expanded to Barbados in 2006. It operates with a staff of 200 across both territories.

business@gleanerjm.com