AMCS and EQT Private Equity announced that EQT X and EQT Future (jointly “EQT Private Equity”) will acquire a majority stake in AMCS. The co-founder, management, and others including existing 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, AMCS serves resource-intensive industries, including waste management, recycling, transportation, manufacturing, and utilities. With its software as a service (SaaS) platform, including Enterprise Resource Planning, recycling, transport, and EHSQ & ESG software, AMCS is positioned to support its customers’ needs and shift towards a more circular economy.
AMCS’ customers include some of the largest waste management and recycling companies globally, as well as blue-chip manufacturing customers. 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.
According to a press release from the company, the partnership with AMCS represents a highly thematic investment for both EQT X and EQT Future. EQT Private Equity will contribute its extensive experience in software value creation and impact acceleration to support the Company’s growth and sustainability ambitions. More than two billion tons of waste is generated annually, resulting in one billion tons of CO2 and 3.2 percent of global emissions, hence the clear need for solutions that can eventually support the transition to a circular economy. AMCS’ solutions sit at the heart of its customers’ operations and, given its leadership position, have tremendous potential to improve resource efficiency for the industry as a whole.
“On behalf of AMCS, I’d like to express our deepest gratitude to EQT, for aligning with our vision of empowering sustainability for organizations globally and championing the circular economy,” said Jimmy Martin, co-founder and CEO, AMCS. “Their backing is instrumental in supporting the transformative work we do. I’d like to also thank our dedicated, long-standing investors Insight Partners, Clearlake Capital, Highland Europe and the Ireland Strategic Investment Fund. These pillars of our capital structure have shown once again their unwavering faith in AMCS through their renewed support. Our shared commitment with our investors is the fuel that drives AMCS to solidify our pivotal role as a leader in Performance Sustainability.”
Robert Maclean, Partner in the EQT Private Equity advisory team, said: “We have followed the progress of AMCS closely for many years and have been hugely impressed by what it has achieved, establishing itself as a clear market leader and delivering continuous innovation on behalf of its customers … y. We are very pleased to be partnering with AMCS’ co-founder and CEO Jimmy Martin as well as his entire team, to deliver on an exciting, shared vision for growth.”
“Our investment in AMCS is strongly aligned with EQT Future’s focus on leading businesses where the market opportunity and the very strong decarbonization impact angle support a long-term investment horizon,” said Simon Griffiths, Head of the EQT Future advisory team. “We believe that AMCS is clearly positioned to be a long-term winner as the world shifts to a circular economy, and we look forward to supporting AMCS to help drive this trend and deliver on its growth ambitions.”
The transaction is subject to customary conditions and approvals. It is expected to close before Q1 2025.
With this transaction, EQT X is expected to be 40-45 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).
