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IT Recycling Company AMI to Invest €4 Million in Acquisitions and 30 New Jobs

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IT Recycling Company AMI to Invest €4 Million in Acquisitions and 30 New Jobs

IT Recycling Company AMI to Invest €4 Million in Acquisitions and 30 New Jobs
February 11
12:05 2019

AMI, Ireland’s leading secure IT recycling company, plans to create 30 new jobs in the next two years, bringing its total workforce to 90 by 2021. The new roles will be shared across AMI’s Dublin and Belfast locations, whose premises will also be expanded, as part of a strategic €4 million investment.

AMI will leverage the investment to grow through targeted acquisition in both the UK and Ireland, focusing on complementary businesses and IT installation companies. 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 forecasted to generate more than €1.15 million in revenue over the next 24 months.

The funding behind the total €4 million investment derives from an external investment of €570,000 from investor Rob Clarke, retained shareholder earnings of €1.71 million and debt finance of €1.71 million. Rob Clarke will also be appointed to AMI’s board as chairman, providing guidance on the company’s growth journey and expansion plan.

Rob Clarke, chairman of AMI, said: “AMI is a great example of an Irish business success story, establishing itself during the recession and going from strength to strength since then – creating employment opportunities in both Dublin and Belfast. It’s refreshing to see a company not rest on its laurels but instead pursue ambitious growth targets with a clear expansion plan in mind. In my role as chairman, I hope to use my experience to help AMI achieve these goals and to consolidate its position as the leading IT recycling company on the island of Ireland.”

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 over 50% in the past two years to €8.1 million.

Philip McMichael, CEO of AMI, said: “AMI has had another stellar year in 2018 and we’re seeking to capitalise on our current growth with this strategic investment. The requirement of organisations to show compliance with GDPR legislation by securely disposing old IT equipment is fuelling demand for our services. 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.”

CAPTION:

Pictured (L-R) are: Rob Clarke, Chairman of AMI, and Philip McMichael, CEO of AMI, announcing AMI’s €4 million investment and 30 new jobs.

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