Allied Universal has divested a majority interest in AMAG Technology, a specialist in integrated security solutions, to Shore Rock Partners, an investor focused on critical infrastructure growth.
This strategic move, supported by Belltower Partners, aims to bolster AMAG’s product offerings, service models, and global capabilities in security management.
AMAG's Strategic Transition
Under the new ownership, Allied Universal will maintain a significant minority stake in AMAG Technology
Under the new ownership, Allied Universal will maintain a significant minority stake in AMAG Technology. David Sullivan, previously President of AMAG, will take on the role of CEO following this transition. Specific terms of the deal have not been disclosed.
According to Steve Jones, Global Chairman and CEO of Allied Universal, "AMAG has been an important part of the Allied Universal team and we look forward to supporting this next stage of growth alongside our partners." Jones emphasized the separation as beneficial for AMAG’s future, allowing greater autonomy in product development.
Commitment to Seamless Operations
The collaboration between Shore Rock Partners, Allied Universal, and AMAG Technology is committed to ensuring a smooth transition for all stakeholders, including customers and integrators. AMAG will retain its operational structure and key personnel to maintain service continuity.
"We are excited to partner with Allied Universal as we both invest to support AMAG's next phase of growth," commented Ashton Wackym and Sebastian Levy, co-founders of Shore Rock Partners. Their focus will be on strengthening customer relations and advancing the product roadmap.
A Milestone for Growth
Belltower, as a strategic partner, provides additional backing to ensure AMAG continues to deliver robust solutions
David Sullivan, now CEO of AMAG Technology, highlighted the significance of this partnership: "This partnership marks an important milestone for AMAG and the customers who rely on our technology every day. Shore Rock brings a thoughtful, long-term approach that aligns with our commitment to reliability, innovation, and service."
Belltower, as a strategic partner, provides additional backing to ensure AMAG continues to deliver robust solutions in high-security environments.
Strong Institutional Demand
The acquisition financing was oversubscribed, indicating substantial interest from international institutions and family offices.
Shore Rock Partners secured advice from Gibson, Dunn & Crutcher and McGuireWoods, while Allied Universal was advised by Sheppard, Mullin, Richter & Hampton, and Belltower by McDermott Will & Schulte.
Allied Universal has sold a majority stake in AMAG Technology to Shore Rock Partners, a critical infrastructure-focused growth investor. AMAG is a global pioneer in integrated high-security access control, identity, guest, and video management solutions.
The new ownership group led by Shore Rock Partners with strategic backing from Belltower Partners will continue to support enhancements to AMAG’s product portfolio, evolve service models, and expand the company’s capabilities to protect people, identities, and assets around the world.
AMAG’s long-term growth
Allied Universal will retain a substantial minority interest in AMAG. With the transaction, AMAG President David Sullivan will become CEO. Additional terms of the sale are not being disclosed.
“AMAG has been an important part of the Allied Universal team and we look forward to supporting this next stage of growth alongside our partners,” said Steve Jones, global chairman and CEO of Allied Universal.
“Because the company is an embedded software and hardware platform, we determined it would be best for AMAG’s long-term growth to separate from our services-based business model, giving it more autonomy and flexibility to focus on development of its products and offerings. Our ongoing investment is representative of our continued support for the business and customers.”
AMAG’s next phase of growth
Shore Rock, Allied Universal, and AMAG are collectively committed to helping ensure a seamless experience for all customers, integrators, and partners. AMAG’s day-to-day operations, support resources, and customer-facing teams will remain in place following the transaction.
“We are excited to partner with Allied Universal as we both invest to support AMAG’s next phase of growth,” said Ashton Wackym and Sebastian Levy, co-founders of Shore Rock Partners.
“AMAG has earned the trust of customers in some of the most demanding environments, and we look forward to building on this heritage by investing resources to deepen customer and channel relationships while advancing the product roadmap. We respect the leadership David and others have brought to the organization and believe AMAG is exceptionally well-positioned in an attractive market.”
Important milestone for AMAG
“This partnership marks an important milestone for AMAG and the customers who rely on our technology every day,” said David Sullivan, CEO of AMAG Technology.
“Shore Rock brings a thoughtful, long-term approach that aligns with our commitment to reliability, innovation and service. Their investment will help us continue strengthening our platform and delivering solutions that meet the evolving needs of high-security environments.”
AMAG’s tremendous potential
Shore Rock and its acquisition of AMAG are supported by a strategic partnership with Belltower, a private investment firm founded by Kewsong Lee. Belltower’s backing provides strategic, operational, and firm-building support to Shore Rock and its affiliates.
“Belltower has deep confidence in Shore Rock’s capabilities, judgment and approach to long-term value creation,” Lee said. “We look forward to working together to realize AMAG’s tremendous potential.”
Demand from a global base of institutions
The private capital raised to finance the acquisition was oversubscribed, reflecting strong demand from a global base of institutions and family offices.
Shore Rock Partners was advised by Gibson, Dunn & Crutcher and McGuireWoods. Allied Universal was advised by Sheppard, Mullin, Richter & Hampton. Belltower was advised by McDermott Will & Schulte. The transaction was negotiated bilaterally.
