Limerick-headquartered environment and recycling management software company AMCS has acquired UK software company The Solution Works for an undisclosed sum.
AMCS was set up in 2003 and achieved a turnover of €7m last year. More than 50pc of the company’s revenues come from exports.
The company specialises in the supply of IT, management and tracking solutions for the recycling and environmental management sectors. Its “pay-by-weight” and on-vehicle technology has become the global standard in the industry, helping significantly reduce the amount of waste going to landfill and encouraging more recycling.
“The acquisition, which is a first for AMCS, is a major milestone in the international expansion and development of the company,” Jimmy Martin, CEO of AMCS, explained.
“The Solution Works has an impressive track record and experience in software development and deployment. The core technology of TSW – the Elemos/Wims software, is the leading solution in our vertical market.
“The acquisition will significantly enhance our capabilities to develop innovative and integrated end-to-end software and hardware systems that maximise efficiencies and profitability for our clients and help them meet their recycling targets,” Martin said.
AMCS expansion plans
In 2009, AMCS raised more than €5m in equity funding from the Ulster Bank Diageo Venture Fund, managed by NCB Ventures and UK-based clean-tech fund, WHEB Ventures. It is the first company supported by the Ulster Bank Diageo Venture Fund to complete a bolt-on acquisition.
“The 2009 funding has enabled AMCS to expand in continental Europe, the UK and the US. Our presence in these overseas markets has continued to grow, with more than 50pc of our €7m turnover from 2010 coming from export markets, in comparison to 20pc in 2009.
“In the last two years, we have also created some 30 new jobs in the company and are on track to almost double our turnover,” said Martin.
AMCS currently employs 65 people, and in addition to its Limerick headquarters, has offices in the UK, US and Sweden and will open an office in France in 2012.