Allied Universal® has announced the sale of a majority stake in AMAG Technology to Shore Rock Partners, a growth-focused investor with an eye on critical infrastructure. AMAG Technology specialises in integrated high-security access control, identity management, visitor protocols, and video solutions.
The newly formed ownership, led by Shore Rock Partners and strategically supported by BellTower Partners, aims to bolster AMAG’s product portfolio, refine service models, and enhance the company's global capabilities in protecting identities, people, and assets.
Continuity and leadership changes
Allied Universal’s continued involvement underscores its dedication to the business and its customers
While Allied Universal retains a significant minority stake, AMAG Technology sees leadership changes with David Sullivan stepping in as CEO. Steve Jones, global chairman and CEO of Allied Universal, stated, “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.”
He emphasised that separating AMAG from their services-driven model was a strategic decision intended to provide AMAG the autonomy needed for its long-term evolution. Allied Universal’s continued involvement underscores its dedication to the business and its customers.
Shared vision for growth
Shore Rock, in partnership with Allied Universal, is focused on delivering an uninterrupted experience for all stakeholders. Operational teams and customer resources will remain stable as AMAG transitions into this new era.
“We are excited to partner with Allied Universal as we both invest to support AMAG’s next phase of growth,” expressed Ashton Wackym and Sebastian Levy, co-founders of Shore Rock Partners. They highlight AMAG's reputation in challenging environments and the intention to invest in strengthening client and channel relationships while advancing the product development path.
Strategic partnership and investment
David Sullivan called the partnership with Shore Rock a significant milestone, aligning with AMAG's values
David Sullivan, CEO of AMAG Technology, called the partnership with Shore Rock a significant milestone, aligning with AMAG's values of reliability, innovation, and service.
He stated, “Shore Rock brings a thoughtful, long-term approach that aligns with our commitment to reliability, innovation and service.” This collaboration is supported by BellTower, which provides strategic and operational support, enhancing Shore Rock's capability in fostering long-term value creation, as supported by Kewsong Lee of BellTower.
Investor interest and advisory roles
The financing for the acquisition exceeded expectations, demonstrating significant interest from a diverse international investor base, including various institutions and family offices.
Legal guidance for Shore Rock Partners was provided by Gibson, Dunn & Crutcher, and McGuireWoods, whereas Allied Universal was advised by Sheppard, Mullin, Richter & Hampton. BellTower’s advisory support came from McDermott Will & Schulte. The negotiation process for the transaction occurred on a bilateral basis.
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Allied Universal®, a pioneering security and facility services provider, now announced that it has sold a majority stake in AMAG Technology to Shore Rock Partners, a critical infrastructure-focused growth investor. AMAG is a 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.”
Shore Rock’s capabilities, judgement and approach
“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.”
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.
