(Bloomberg) -- EQT AB agreed to acquire a majority stake in AMCS, a software provider focused on waste management and recycling.
EQT Private Equity will invest from EQT X, its flagship private equity fund, and EQT Future, according to a Wednesday statement that confirmed an earlier Bloomberg News report. AMCS’s co-founder, management and investors including Insight Partners and Clearlake Capital will retain minority stakes.
AMCS was founded in 2003 and is based in Ireland. It has more than 1,300 employees across Europe, North America and Australasia.
“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,” Simon Griffiths, head of the EQT Future advisory team, said in the statement.
The transaction is expected to close before the first quarter in 2025, subject to approvals.
(Updates throughout with official statement.)
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