IT recycling company AMI is to create 30 new jobs over the next two years as part of a strategic €4m investment.

The company said the new roles will be shared across its Dublin and Belfast operations and will bring its total workforce to 90 by 2021. 

AMI said it will use the new investment to grow through targeted acquisition in both the UK and Ireland, focusing on complementary businesses and IT installation companies. 

AMI manages the secure disposal of end-of-life IT, mobile and electrical equipment as well as the data on such equipment. 

It was the first company in Ireland to attain ADISA accreditation, an industry scheme for companies who provide IT asset disposal services.

The funding behind the total €4m investment derives from an external investment of €570,000 from investor Rob Clarke, retained shareholder earnings of €1.71m and debt finance of €1.71m. 

Rob Clarke will also be appointed to AMI’s board as chairman and will provide guidance on its growth journey and expansion plan.

The latest 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.

Its revenues has also grown by over 50% in the past two years to €8.1m.

Philip McMichael, CEO of AMI, said that companies' requirement to show compliance with GDPR legislation by securely disposing old IT equipment is fuelling demand for its services. 

"The additional hires, expanded premises and the development of our technology and service capabilities will all support us in meeting this increasing demand," Mr McMichael said. 

He said that acquisition is another key business strategy for the company. 

"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," he added.