Allied Universal, a security and facility services provider, has sold a majority stake in AMAG Technology, a company in integrated high-security access control, identity, guest, and video management solutions, to Shore Rock Partners, a critical infrastructure-focused growth investor. 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.

Allied Universal will retain a substantial minority interest in AMAG. With the transaction, David Sullivan, president of AMAG, 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, 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.”

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.”

Sullivan added, “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. 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, judgment and approach to long-term value creation,” Lee said. “We look forward to working together to realize AMAG’s tremendous potential.”

The private capital raised to finance the acquisition was oversubscribed.

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.