The merger sees PSI's highly successful and well established operations in Northern Ireland and the Irish Republic continue unchanged with the same directors, staff, facilities and distinct identity. PSI now has the additional advantage of access to HSL's massive equipment inventory and additional resources.
Combined annual sales are expected to reach £15m in the next 24 months, there are over 100 full time skilled and talented employees and the new working relationship will enable both companies' UK and Irish operations to be streamlined, seamless and highly competitive, says a statement.
HSL's MD Simon Stuart comments: "Joining forces with PSI presented an ideal opportunity for us to work with like-minded, people-focused individuals in Ireland who are also dedicated to providing the very best equipment and services.
"PSI's reputation for excellence and innovation is right in tune with our core values. We look forward enormously to a long and fruitful alliance that will strengthen our brand, and see PSI continue its business retaining the style and attitude that everyone loves and respects."
PSI will have HSL's vast stock and resources at its disposal - including over 5000 moving lights, three kilometres of trussing and 800sq.m of LED surfaces.
Last year both HSL and PSI expanded and moved into new warehouse premises - in PSI's case, both their Belfast and Dublin sites.
PSI has three directors - Brian Reilly and Sean Pagel in Belfast and Ciaran Tallon who runs the Dublin facility. HSL directors Simon Stuart and Mike Oates are based in Blackburn, UK.
PSI's Brian Reilly comments: "We are very excited about this co-operation with HSL. It will enable us to offer even more efficiency and value to our clients, with a greater and more diverse range of equipment to enhance everyone's creativity and imaginative goals."
In recent years, the two companies have been collaborating closely on a number of high profile projects and that existing healthy crossover of ideas, experience, knowledge and equipment is now cemented in this new relationship.
(Jim Evans)
