EQT to acquire majority stake in software firm AMCS

EQT Private Equity is to acquire a majority stake in AMCS, a provider of cloud-based and AI-enabled planning, performance, safety and sustainability-focused software for waste management, recycling and other resource-intensive industries.

The transaction, which is subject to customary conditions and approvals, is expected to close before Q1 2025.

The acquisition is being made jointly by EQT X and EQT Future, while AMCS Co-Founder and CEO Jimmy Martin and previous majority investor Insight Partners, as well as Clearlake Capital, Highland Europe and the Ireland Strategic Investment Fund, are expected to retain minority stakes.

Founded in 2003 and headquartered in Ireland, the AMCS SaaS platform includes enterprise resource planning, recycling, transport and EHSQ & ESG software.

The company's customers include some of the largest waste management and recycling companies globally. With over 1,300 employees across Europe, North America and Australasia, AMCS serves over 3,800 customers, across 80 countries, and helps manage more than 700,000 vehicles globally.

AMCS was advised by William Blair & Company, Insight Partners was advised by Willkie Farr & Gallagher and EQT was advised by Arma Partners and Clifford Chance.

With this transaction, EQT X is expected to be 40-45% invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).