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Poised for Growth, AMCS Receives $50 Million (EUR 45 Million) Funding From Insight Venture Partners, Supported by Ireland Strategic Investment Fund

OXFORD, PA–(Marketwired – August 24, 2015) – AMCS, the global leader in end-to-end, integrated software solutions for the waste and recycling industry, today announced a $50 Million (EUR 45 Million) investment, led by Insight Venture Partners (Insight), a New York-based private equity and venture capital firm, with participation from the Ireland Strategic Investment Fund (ISIF).

The company will use the new capital to fuel continued global expansion, which will include strategic acquisitions in its existing core markets and central Europe. It will also support AMCS’ pioneering product innovation as it continues to develop its market leading ERP, logistics, SAAS, and mobile solutions for the high growth waste, material processing and transport sectors. As part of the transaction, Euan Menzies, Managing Director at Insight, will join AMCS’s board of directors.

Commenting on the investment, AMCS’ CEO, Jimmy Martin said: “This investment by Insight and ISIF will allow us to accelerate our product development and international growth as we help drive maximum value for our customers by providing them with software solutions and critical data to create efficiency and scalability.
“Insight brings great experience to developing companies with similar dynamics to those we have at AMCS today. The experience and expertise of the Insight Directors will reinforce the continued support we enjoy from our existing investors, Highland Capital Partners Europe (Highland) and Investec.”

Euan Menzies, of Insight, said: “AMCS is the clear leader in a large, global market that is accelerating its adoption of integrated waste and recycling software and technology solutions. We are pleased to partner with Jimmy and the management team at AMCS in order to foster continued international growth.”

Fergal McAleavey, Head of Private Equity at ISIF, said: “AMCS’ technology has had a significant impact on the recycling and waste industry around the world and we are very pleased that the ISIF’s direct investment will help such an innovative Irish company to tap that potential.”

Following the investment from Highland and Investec Ventures in early 2014, AMCS has completed a number of major acquisitions including the US market leader PC Scale and Danish-based route planning and optimization systems provider, Transvision.

AMCS Group
AMCS is the global leader in ERP software and vehicle technology for the waste, recycling and resource industry. Founded in 2003, AMCS has 275 employees with customers in nineteen countries across the world. The company has offices in Ireland, UK, France, Sweden, Norway, Australia, New Zealand, Denmark, Netherlands, and the US and serves a worldwide customer base including many market leading and international leading brands. Its flagship software solutions manage over $5.8 Billion (EUR 5 Billion) of customer’s revenue, 30,000 vehicles and 3,000 sites.
For further information visit www.amcsgroup.com

About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $10 billion and invested in more than 200 growth-stage software, Internet and data-services companies worldwide. The company’s mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success. Learn more at insightpartners.com or follow Insight on Twitter: @insightpartners.

About the Ireland Strategic Investment Fund (ISIF)
Managed and controlled by the National Treasury Management Agency (NTMA) the ISIF was established in December 2014 with a statutory mandate to invest on a commercial basis in a manner designed to support economic activity and employment in Ireland. This dual mandate — investment return and economic impact — represents a new “double bottom line” approach to investing and will require all transactions to generate both risk adjusted commercial returns and economic impact in Ireland. The Fund was valued at EUR 7.6 billion at end June 2015. Read more at www.isif.ie or follow the NTMA on Twitter: @NTMA_IE.

 
Investec Ventures is the venture capital division of Investec in Ireland and manages the EUR 75 million Ulster Bank Diageo Venture Fund which invests in Irish technology companies. These companies employ over 1000 people and operate in market segments encompassing mobile technology, telecoms, eCommerce, social media, analytics, telematics, digital media, cloud computing, data storage, e-health, healthcare and the Internet of Things. Investec has been an investor in AMCS since 2006. Please visit www.investec.ie
AMCS was advised in this transaction by Maples.

For further information, contact:

United States

Yasi Alemzadeh
Vice President, Marketing
AMCS Group
Mobile: 949-351-8500
Email: yasi@amcsgroup.com

International

Austen Lees
Sirius Comms
Office: +44 (0) 1923 608 360
Mobile: +44 (0) 7773 813 210
Email: austen@siriuscomms.co.uk