EQT to Buy Majority Stake in Software Supplier AMCS
By Dominic Chopping
STOCKHOLM--EQT said it will acquire a majority stake in AMCS, a supplier of software for the waste management and recycling industries.
The Swedish buyout group said Wednesday that following the acquisition, the co-founder, management, and existing investors Insight Partners, Clearlake Capital, Highland Europe and the Ireland Strategic Investment Fund will retain minority stakes.
Founded in 2003 and headquartered in Ireland, AMCS serves resource-intensive industries, including waste management, recycling, transportation, manufacturing, and utilities, providing software that helps deliver increased performance and efficiency while supporting sustainability goals and regulatory requirements.
AMCS has more than 1,300 employees across Europe, North America and Australasia, serving more than 3,800 customers across 80 countries.
The transaction is subject to customary conditions and approvals and is expected to close before the first quarter of 2025.
Financial terms weren't disclosed but with this deal the EQT X fund is expected to be 40%-45% invested, it said.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 14, 2024 04:08 ET (08:08 GMT)
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