EQT Secures Majority Ownership of AMCS

EQT has announced it will acquire a majority stake in AI sustainability software firm AMCS under EQT X and EQT Future.

While details of the financial transaction were not made public, EQT will be 40-45 percent invested in the company once the deal closes.

"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," said Robert Maclean, Partner in the EQT Private Equity advisory team, in a statement. "We strongly believe that AMCS has a fantastic opportunity to further support the circular economy and drive a greater share of recycling within the waste industry. We are very pleased to be partnering with AMCS' Cofounder and CEO Jimmy Martin as well as his entire team, to deliver on an exciting shared vision for growth."

Founded in 2003, Ireland-based AMCS has more than 3,800 customers globally and assists in fleet optimization for 700,000 vehicles.

"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. Their backing is instrumental in supporting the transformative work we do," commented Jimmy Martin, co-founder and CEO, AMCS.

The acquisition is expected to be finalized in Q1 2025.

Source: AMCS