Wheb exits AMCS
Wheb Partners has sold its stake in Advanced Manufacturing Control Systems (AMCS), an Irish provider of technology solutions to the waste and recycling sector.
The exit occurred in January 2014 when AMCS received €23.5m from Highland Capital Partners in a round supported by Investec. The company then bolted on US firm PC Scale Technologies in early February.
Wheb led a €5.25m funding round for the company in 2009, with support from the Ulster Bank Diageo Venture Fund, managed by NCB Ventures. The round was designed to allow the company to hire up to 50 new staff, according to unquote" data.
Company
Founded in 2003 and based in Limerick, AMCS provides technology solutions to the waste and recycling sectors. The company reported a turnover of €18m in 2013 and employs around 135 members of staff.
During Wheb's holding period, revenues and EBITDA rose from €8.4m and €0.7m respectively to €18m and €1.9m in 2013.
People
James McNaught-Davis is a managing partner at Wheb.
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