LIMERICK based AMCS, the global leader in end-to-end, integrated software solutions for the waste and recycling industry, has scooped a $50 Million (€45 Million) investment, led by Insight Venture Partners, a New York-based private equity and venture capital firm, with participation from the Ireland Strategic Investment Fund (ISIF) as the company plans to fund its international growth.
In a details released this week, the company will use the new capital to fuel continued global expansion, which will include strategic acquisitions in its existing core markets and central Europe. It will also support AMCS’ pioneering product innovation as it continues to develop its market leading ERP, logistics, SAAS, and mobile solutions for the high growth waste, material processing and transport sectors.
As part of the transaction, Euan Menzies, Managing Director at Insight, will join AMCS’s board of directors.
Commenting on the investment, AMCS’ CEO, Jimmy Martin said: “This investment by Insight and ISIF will allow us to accelerate our product development and international growth as we help drive maximum value for our customers by providing them with software solutions and critical data to create efficiency and scalability.
“Insight brings great experience to developing companies with similar dynamics to those we have at AMCS today. The experience and expertise of the Insight Directors will reinforce the continued support we enjoy from our existing investors, Highland Capital Partners Europe (Highland) and Investec.”
Euan Menzies, of Insight, said: “AMCS is the clear leader in a large, global market that is accelerating its adoption of integrated waste and recycling software and technology solutions. We are pleased to partner with Jimmy and the management team at AMCS in order to foster continued international growth.”
Fergal McAleavey, Head of Private Equity at ISIF, said: “AMCS’ technology has had a significant impact on the recycling and waste industry around the world and we are very pleased that the ISIF’s direct investment will help such an innovative Irish company to tap that potential.”
Following the investment from Highland and Investec Ventures in early 2014, AMCS has completed a number of major acquisitions including the US market leader PC Scale and Danish-based route planning and optimization systems provider, Transvision.
Founded in 2003, AMCS has 275 employees with customers in nineteen countries across the world. The company has offices in Limerick, UK, France, Sweden, Norway, Australia, New Zealand, Denmark, Netherlands, and the US and serves a worldwide customer base including many market leading and international leading brands. Its flagship software solutions manage over $5.8 Billion (EUR 5 Billion) of customer’s revenue, 30,000 vehicles and 3,000 sites.
