SEATTLE (Recycling Monster): Leading private equity firm EQT will acquire majority stake in waste and recycling software company AMCS. The financial details of the transaction were not disclosed. The deal is expected to come to a close before the end of Q1 next year.

EQT will invest in AMCS via its main private equity fund EQT X and its longer-hold fund EQT Future.

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Founded in 2003 and based in Limerick, AMCS is an industry leading provider of cloud-based software platform that integrates various functions for fleets including route management, AI-enabled camera technology, data reporting tools. With operations across Europe, North America, Asia and Australia, the company serves more than 3,800 customers worldwide.

Robert Maclean, partner in the EQT Private Equity advisory team stated that it has been closely following the progress of AMCS for several years and has been hugely impressed by its achievements. AMCS has a great opportunity to further support the circular economy and drive a greater share of recycling within the waste industry.

Leading financial advisory firm William Blair is being contracted as the financial advisor to AMCS for the transaction.