Irish IT firm hunting UK acquisitions

Irish IT recycling company AMI is targeting strategic acquisitions in the UK and Ireland as it looks to significantly grow the international presence of its two main businesses.

The company is looking at buying complementary businesses and IT installation firms. In the UK, AMI is looking for bolt-on acquisitions to boost its DiskShred subsidiary, which provides on-site hard drive shredding services to companies in 13 countries across Europe.

Here, AMI is looking to grow its recently-launched deployment and relocation service, which helps customers securely manage IT system refreshment and office moves. That service is expected to generate more than €1.15m in revenue for AMI in the next two years.

"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," said AMI managing director Philip McMichael.

"The requirement of organisations to show compliance with GDPR legislation by securely disposing of old IT equipment is fuelling demand for our services," he said.

Mr McMichael said AMI is on "a strong growth trajectory" and acquisition will be a key business strategy for the company.

AMI has more than doubled its workforce - from 25 to 60 employees - in the last three years and has grown its revenues by over 50% to over €8m in the last two years.

The company is planning a €4m strategic growth investment, part of which will see an expansion of its existing two Irish offices in Dublin and Belfast.

A further 30 jobs are set to come on stream in the next two years, which will be spread across those two offices.

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