Following the acquisition, the co-founder, management, and others 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.

AMCS has almost 4,000 customers across 80 countries, including some of the largest waste management and recycling companies globally, as well as blue-chip manufacturing customers.

The company has offices in North America, Europe, and Australia in addition to its Limerick headquarters, employing more than 1,300 staff members across its global operations. 

It's new majority stakeholder, EQT Private Equity is a Swiss-founded global investment organisation with €246bn in total assets under management. The firm also owns portfolio companies and assets across Europe, Asia-Pacific and the Americas.

"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," said Jimmy Martin, co-founder and chief executive of AMCS. "Their backing is instrumental in supporting the transformative work we do."

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. 

"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.”

In October last year, AMCS acquired Canadian sustainability platform FigBytes for an undisclosed amount, marking the company's second strategic acquisition in the ESG space, following the acquisition of German firm Quentic in June 2022.