The Limerick-based AMCS Group, which employs 130 people developing environmental software, has concluded a €23.5 million financing deal that will allow it to expand into the Americas, Europe, Australia and New Zealand.
Founded by Jimmy Martin and Austin Ryan in 2003, AMCS had a turnover of €18 million last year from 700 customers in the waste management sector.
It supplies information technology, management and tracking solutions for the recycling and environmental management sectors, reducing the amount of waste going to landfills and increasing recycling levels.
Mr Martin said the new investment would allow AMCS to hire 40 additional staff in Limerick over the next three years. The company already employs 60 workers at its base in Fanningstown, Crecora.
“We are focused on growing pretty quickly, about 40 per cent to 50 per cent a year, and this will give us a strong balance sheet to do so,” he said.
“It will allow us further develop our products, expand into new markets and consider acquisitions.
“The industry is changing rapidly from being about collecting waste and dumping it in landfills to seeing it as a resource that can be recycled or turned into energy. Technology allows our customers to manage the process and measure how well they are doing.”
AMCS has already acquired businesses in the UK, North America and in Nordic countries. Mr Martin identified France and Poland as big opportunities in 2014 and he predicted his company would have revenues between €24 and €25 million.
