Highland’s AMCS bolts on PCST

AMCS received €23.5m two weeks ago in a round led by Highland and supported by Investec, which backed the company via the Ulster Bank Diageo Venture Fund.

The bolt-on makes AMCS the largest global provider of software and on-vehicle technology for the waste management and recycling industries, according to the company.

The acquisition is part of AMCS's strategy to consolidate its position in international markets.

Limerick-based AMCS was founded in 2003. The company reported turnover of €18m in 2013 and currently employs 135 staff, though some of the funds provided by Highland and Investec in January will be used to employ an additional 40 staff.

Prior to the Highland-led round last month, AMCS has received funding in the past from NCB Ventures and clean-tech investor WHEB Partners, according to unquote" data. In February 2009 the two firms supplied AMCS with €5.25m via the Ulster Bank Diageo Venture Fund (which NCB managed) and £105.4m from WHEB Ventures Private Equity Fund 2.

Company
Founded in 1986 and headquartered in Oxford, Pennsylvania, PCST provides software and technical services for the waste and recycling industries. Solutions include waste management software, recycling and solid waste management, healthcare waste management and landfill billing.

The company is partnered with Microsoft and Citrix. It employs 50 staff in the US and generates annual revenues of around $10m (c€7.4m).

People
Jimmy Martin is the CEO of AMCS and founded the company alongside Austin Ryan. Donald Tefft is the founder and current CEO of PCST. The company's current COO Ken Good will head up the new AMCS division.

Highland partners Fergal Mullen and Tony Zappala have seats on AMCS's board of directors.

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