Allied Universal has entered into an agreement to divest a majority interest in AMAG Technology to Shore Rock Partners, a growth-focused investor with an emphasis on critical infrastructure. AMAG, renowned for its integrated high-security solutions including access control, identity, guest, and video management, will continue to evolve under its new ownership structure.
The transition is supported by strategic backing from Belltower Partners, ensuring the continuity and development of AMAG’s diverse offerings in safeguarding people, identities, and assets globally.
Maintaining strategic interests
With the new ownership dynamics, AMAG President David Sullivan is set to assume the role of CEO
Post-transaction, Allied Universal will still hold a significant minority share in AMAG. With the new ownership dynamics, AMAG President David Sullivan is set to assume the role of CEO.
While the specific details of the sale remain undisclosed, the changes signal a strategic move to enable AMAG to gain more independence and flexibility. Steve Jones, global chairman and CEO of Allied Universal, stated that AMAG's autonomy would facilitate greater focus on product development and innovation.
Ensuring seamless operations
Together, Shore Rock, Allied Universal, and AMAG are dedicated to ensuring a smooth transition for customers, integrators, and partners. The transaction will not affect AMAG's daily operations, as all support resources and customer-facing teams will stay intact.
Ashton Wackym and Sebastian Levy, co-founders of Shore Rock Partners, expressed enthusiasm about the partnership, highlighting AMAG’s strong market position and the planned investment to further enhance customer relationships and product advancement.
Promising developments for AMAG
The investment aims at reinforcing the company’s platform and meeting the evolving demands of the security sector
The partnership signifies a significant milestone for AMAG and its clientele, who rely on the company's technology in high-security settings.
David Sullivan, newly appointed CEO of AMAG Technology, remarked on the alignment of Shore Rock's long-term approach with AMAG’s dedication to reliability and innovation. The investment aims at reinforcing the company’s platform and meeting the evolving demands of the security sector.
Strategic support for future growth
Shore Rock's acquisition of AMAG is bolstered by Belltower, a private investment firm founded by Kewsong Lee, providing essential strategic and operational support. Lee expressed confidence in Shore Rock's ability to create long-term value and revealed Belltower's commitment to realising AMAG’s potential. The high demand for investment in this venture by global institutions and family offices was evident as private capital raised for the acquisition exceeded expectations.
In facilitating this transaction, Shore Rock Partners received counsel from Gibson, Dunn & Crutcher and McGuireWoods, whereas Allied Universal was advised by Sheppard, Mullin, Richter & Hampton. McDermott Will & Schulte advised Belltower. The transaction was the result of a bilateral negotiation process.
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 organisation 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, judgement and approach to long-term value creation,” Lee said. “We look forward to working together to realise 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.
