AMI to Invest €4M in Electronics Recycling Acquisitions
AMI-Ireland’s leading IT recycling company announced its plans to invest Euro 4 million in targeted acquisitions over the next two years. The investment is part of the company’s key business strategy to capitalize on the IT recycling boom. The proposed investment is expected to create 30 additional jobs in the company’s Dublin and Belfast locations. This will bring AMI’s total workforce to nearly 90.
The acquisitions will primarily target complementary businesses and IT installation companies in both the UK and Ireland through its subsidiary, DiskShred. This will help the company expand its footprints by offering a wide range of services in international markets. The investment will also focus on finding new markets for the company’s recently launched deployment and relocation services. AMI expects revenue in excess of €1.15 million from these services over the next couple of years.
Philip McMichael, managing director, AMI noted that the strategic investment aims to capitalize on the stellar growth reported by the company during the previous year and further consolidate its position as the leading IT recycling company in Ireland. The strengthening of regulations with the General Data Protection Regulation (GDPR), which came into force in May 2018, has led to increased demand for secure disposal of IT equipment by organizations, he said.
AMI has more than doubled its workforce from 25 to 60 in the past three years. Its revenues have surged higher by more than 50% in the past two years.