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AMCS

14.8.2024 12:56:29 CEST | Business Wire | Press release

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EQT Private Equity to acquire majority stake in AMCS, the leading provider of Performance Sustainability

AMCS, a global leader of sustainability software for foundational industries, and EQT Private Equity are pleased to announce that EQT X and EQT Future (jointly "EQT Private Equity") will acquire a majority stake in the Company. The co-founder, management, and other existing investors, 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 industry leading SaaS platform, which includes Enterprise Resource Planning, recycling, transport, and EHSQ & ESG software, AMCS is strongly positioned to support its customers’ needs and shift towards a more circular economy. AMCS’ market is growing quickly thanks to secular tailwinds including the growth in complexity associated with shifting to greater circularity in supply chains, as well as cloud software adoption trends, and increasing regulatory and sustainability reporting.

AMCS' solutions help to deliver increased performance and efficiency in its customers’ operations, while also supporting them to deliver on their sustainability goals and meet regulatory requirements. 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 3800 customers, across 80 countries, and helps manage more than 700,000 vehicles globally.

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 emissions1, 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.

Performance Sustainability: Sustainability That Means Business

AMCS’ Performance Sustainability Suite is the operating system for foundational industries that makes sustainability and profitability possible. The suite manages the running of day-to-day operations such as contracts and pricing, logistics and transportation, materials and resources, health and safety, and sustainability intelligence. The AMCS Performance Sustainability Suite drives growth and profitability, optimizes efficiency and safety, powers corporate sustainability initiatives, and prepares businesses for the circular economy and the future. With AMCS, businesses can improve performance and scale more easily, enabling foundational industry professionals to leave the planet in a better way than they found it.

Jimmy Martin, co-founder and CEO, AMCS, said: “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. 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. 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’ co-founder and CEO Jimmy Martin as well as his entire team, to deliver on an exciting, shared vision for growth.”

Simon Griffiths, Head of the EQT Future advisory team, said: “Our investment in AMCS is strongly aligned with EQT Future’s focus on leading businesses, where the market opportunity and the very strong decarbonisation impact angle support a long-term investment horizon. 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."

Richard Wells, Managing Director at Insight Partners, said: “Since our initial investment in 2015, Insight has had the privilege of supporting AMCS as it scaled into a global market leader driving positive change towards a more circular economy. We look forward to deepening our support of AMCS, led by co-founder and CEO Jimmy Martin, in partnership with EQT as the business continues to innovate and grow."

The transaction is subject to customary conditions and approvals. It is expected to close before Q1 2025.

William Blair & Company served as exclusive financial advisor to AMCS. Willkie Farr & Gallagher served as legal counsel to Insight Partners. Arma Partners served as exclusive financial advisor and Clifford Chance as legal counsel to EQT.

About EQT

EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 133 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership. Learn more at: www.eqtgroup.com. Follow EQT on LinkedIn, X, YouTube and Instagram.

About Insight Partners

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.

About AMCS

At AMCS we are focused on Performance Sustainability – enabling resource-intensive industries to boost sustainability and profitability. Built on decades of experience, our purpose-built software solutions are designed by people who understand your business, providing practical solutions for the resources, waste, recycling, transportation, manufacturing, and utilities industries.

Headquartered in Ireland, and with offices in Europe, the USA, and Australia, AMCS is a global market leader with over 1,300 mission-driven team members. The combined expertise of our team allows AMCS to deliver innovative solutions and extensive insight, helping customers to drive growth and achieve lasting success. As a trusted global partner, we work with 3800 customers in more than 80 countries delivering digital solutions that create meaningful and measurable impact by increasing customer satisfaction, enhancing sustainability, and boosting margins.

At AMCS, we're ready to innovate with you - deploying our experts, processes, and technology to drive your business forward and prepare you for success in a more sustainable, net zero carbon future. Learn more at: www.amcsgroup.com

1 World Bank; Climate Watch; the World Resource Institute.

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