GDPR rules require the safe disposal of IT equipment, and AMI can help.
IT recycling company AMI (Asset Management Ireland) is to generate 30 new jobs between Dublin and Belfast as part of a €4m investment.
This will increase the company’s workforce to 90 by 2021.
‘The requirement of organisations to show compliance with GDPR legislation by securely disposing old IT equipment is fuelling demand for our services’
– PHILIP MCMICHAEL
AMI helps organisations manage the secure retirement of their end-of-life IT, mobile and electrical equipment.
UK acquisitions and investments in AMI’s subsidiary, DiskShred, will allow the company to extend its service offering in international markets. DiskShred currently provides secure on-site hard-drive and media-shredding services to 13 countries throughout Europe.
The investment will also facilitate the growth of AMI’s recently launched deployment and relocation service, which provides organisations with a secure way of managing IT refreshes and office moves. The service is forecast to generate more than €1.15m in revenue over the next 24 months.
The investment comes as AMI marks a significant period of recent growth, having more than doubled its workforce from 25 to 60 in the last three years, and growing revenues by more than 50pc in the past two years to €8.1m.
The funding behind the total €4m investment comes from an external investment of €570,000 from investor Rob Clarke, retained shareholder earnings of €1.71m and debt finance of €1.71m. Clarke will also be appointed to AMI’s board as chair.
AMI CEO Philip McMichael said the onset of the EU’s General Data Protection Regulation (GPDR) has been a serious driver for the growth of the business.
“The requirement of organisations to show compliance with GDPR legislation by securely disposing old IT equipment is fuelling demand for our services,” he said. “The additional hires, expanded premises, and the development of our technology and service capabilities will all support us in meeting this increasing demand.
“Acquisition is another key business strategy for us. We will remain on the lookout for other IT disposal and IT installation businesses with matching values that can easily integrate into the company, allowing us to quickly enhance our offering. AMI is on a strong growth trajectory and we’re looking forward to welcoming new team members who’ll share our excitement for the journey ahead,” McMichael added.