€45m investment for Limerick waste technology firm

Leader Reporters


Leader Reporters

Driving growth: Jimmy Martin, AMCS Group, with Austin Ryan. Picture Liam Burke/Press 22
LIMERICK based waste and recycling management software firm AMCS has secured a €45m injection of capital.

LIMERICK based waste and recycling management software firm AMCS has secured a €45m injection of capital.

The investment has come from the New York-based venture capital firm Insight Partners.

A further investment has come for the Crecora based business from the Ireland Strategic Investment Fund (Isif), which is a subsidiary of the National Treasury Management Agency (NTMA).

AMCS, founded in 2003 by Jimmy Martin and Austin Ryan, will use the capital to fund its international growth.

It may also make acquisitions in areas across Europe where it hopes to expand.

The company - which has a number of blue-chip clients in the waste industry on its books - is headquartered in Limerick, but also has offices in the USA, Britain, Denmark, France, Sweden, the Netherlands and Australia.

It is understood this investment places the AMCS group as one of the most valuable software firms in Ireland, with a worth of up to €100m.

Chief executive 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.”

He said Insight “brings great experience to developing companies with similar dynamics to those in place at AMCS now”.

Euan Menzies, the managing director at Insight will join the board of AMCS following the completion of the transaction.

“We are pleased to partner with Jimmy and the management team at AMCS in order to continue fostered international growth.”

AMCS employs around 130 people at its head office in Crecora.

In 2012, the firm opened a new research and development centre which saw the creation of 65 new positions.

It’s co-founder Mr Martin is a well-known figure in Limerick’s business community.

In 2013, he was a finalist in the prestigious Ernst & Young sponsored Entrepreneur of the Year programme.