Insight and ISIF in >€100m round for AMCS

Unquote understands that reports by the Sunday Times claiming ISIF contributed €40m to the funding round and Insight €10m are broadly correct.

The company's existing investors include Insight, ISIF and Highland Capital Partners Europe.

AMCS has undertaken an international and acquisitive expansion strategy since first receiving equity backing. In January 2018, it acquired Brady Recycling from listed trade vendor Brady, increasing its footprint across the North American, European and Australasian markets.

ISIF declined to comment on the deal, while Unquote was still awaiting a response from Highland Capital at the time of publication.

Previous funding
AMCS first received backing from institutional fund managers in October 2006, when Mianach Venture Capital led a €1.6m round for the company. Investec and Shannon Development Company also took part in the initial investment.

Three years later, Wheb Ventures led a €5.25m round for the company alongside Investec.

Highland then injected €23.5m into AMCS in January 2014, just 19 months before Insight led a €45m funding round alongside ISIF.

Company
Founded in 2003 and headquartered in Limerick, AMCS develops end-to-end software for the recycling and waste management industry. It has operations in Ireland, the UK, Australia, Denmark, Germany, France, the Netherlands, Finland, Sweden, the US and Canada.

People
AMCS Group – Jimmy Martin (co-founder, CEO).

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