Global law firm Clifford Chance has advised EQT X and EQT Future (jointly “EQT Private Equity”) on the acquisition of a majority stake in AMCS, a supplier of cloud-based and AI-enabled planning, performance, and sustainability focused software for waste management, recycling and other resource-intensive industries.

EQT Private Equity will invest from EQT X, its flagship private equity fund, and EQT Future, its impact-driven, longer-hold fund, and leverage its capabilities in software and impact value creation to support AMCS.

The founder, management and other existing investors, including Insight Partners, will retain minority stakes.

The multi-disciplinary team, based in London, New York and Munich, was led by London Head of Private Equity Spencer Baylin, with support from Global Head of Private Equity Jonny Myers and Private Equity Partners Graham Phillips and Thomas Fisher, Senior Associates Victoria Ho, Joshua Reynolds, Joshua Higgins and Artem Paoutov, and Associates Eleanor Burkin, Amelia Bennett, Daniel Ng and Ross Nixon.

The transaction team was supported in London by: Tech//Digital Partner Zayed Al Jamil and Senior Associate Claudia Hall; IP Partner Stephen Reese and Senior Associate Sean Wood; Incentives Partner Sonia Gilbert and Senior Associate Kate Haywood; Employment Partner Chinwe Odimba-Chapman and Senior Associate Florence Wong; Pensions Partner Clare Hoxey and Associate Laura Sutcliffe; Tax Partner Edward Page; Environment Partner Adam Hedley and Senior Associate Anneke Theelan; Real Estate Partner Alis Pay and Senior Associate Amye McArthur; Litigation Partner Michael Lyons and Senior Associate Bethan Lovett; and Finance Partner Neil Cavanagh and Associate Kuan Yue Lim.

Support was also provided by other Clifford Chance offices including New York (lead by Partner Neil Barlow and Associate Matt Bergerud) and Munich (lead by Partner Dr. Mark Aschenbrenner).

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