Chelsea news as co-owners Clearlake Capital hit yet more business success following the end of the transfer market
Chelsea co-owners Clearlake Capital have seen a massive return on one of their minor investments from 2022 after Irish environmental services software provider, AMCS International, reached a valuation of £1.1billion ($1.39m).
Clearlake, who were founded by new major Chelsea investors Behdad Eghbali and Jose E Feliciano, put a reported £80.8million ($110.8m) into the Limerick-based company last year. That money, plus further investments from Insight Partners, has helped AMCS to a 59% increase in annual revenue, The Times reports.
It has now seen a rise to £117.9million ($146.3m) in recurring revenue while earnings rose 35% to £18million ($2.5m).
The investement from Clearlake was part of more than £227.5million ($330.7m) raised by the company but represents a relatively small piece of business for the Santa Monica private equity firm.
These are lesser pieces in a widescale set-up for Eghbali and Feliciano as they have over ($72bn) worth of assets across more than 400 investments.
The most high-profile of these, Chelsea, was a takeover completed in May 2022 after former owner Roman Abramovich had his assets, including the club, frozen under sanctions imposed by the British government following Russia's invasion of Ukraine.
Their success as US-based businessmen is yet to translate into the footballing world despite Boehly's impressive portfolio of work at LA Lakers and LA Dodgers. The latest positive boost under the eyes of Clearlake, though, provides them with yet more examples of their impact on big business.
With partial help from Clearlake, AMCS has massively increased its staff size - now up to a reported 1,300 people - as well becoming one of the biggest technology companies in Ireland. It has been described by an American outlet as a 'goliath' of the waste software industry and has completed nearly 20 acquisitions in its bid to continue growing.
The results of this have been huge with revenue doubling every two years since 2016 through organic growth and acquisitions.