Security integrator Unlimited Technology on Thursday announced that New York-based private equity firm Lee Equity Partners has acquired a majority ownership stake in the company. Financial terms of the deal were not disclosed.
Based in Chester Springs, Penn., Unlimited Technology provides integrated access control and video, intercom and communications, perimeter security assessments, life safety systems, network integration, cybersecurity, and managed services. The company completed over 1,400 systems integration projects in 2020 for clients in the critical infrastructure, transportation, commercial real estate, financial, municipal, and education markets.
According to a statement, Unlimited Technology's senior management team, led by President John Palumbo, will continue to lead the company and will retain meaningful equity ownership in the business. Palumbo will assume the role of CEO once the transaction has been finalized.
"Since our founding in 1999, Unlimited Technology has been one of the fastest growing and most successful security systems integrators due to our commitment to customer service and our ability to lead with the latest security technology solutions," Palumbo said. "Our long-term relationships with global customers and partnerships with industry-leading security suppliers demonstrate our commitment to providing the highest quality of technology solutions to our discerning clients. With Lee Equity's knowledge and experience in the security integration and asset-light facility services sectors, we look forward to continuing to serve our loyal clients and expanding into additional markets."
"Unlimited Technology is a highly differentiated security systems integrator with capabilities to address the convergence of physical security with network security and cybersecurity. Unlimited provides its clients with a one-stop, comprehensive solution for all of these technology needs, along with managed services and outstanding customer service," said Yoo Jin Kim, a Partner at Lee Equity. “We look forward to working with John and the entire Unlimited Technology team to expand Unlimited Technology’s client base, geographic footprint and service offerings.”
Security systems integration has been an active investment thesis for Lee Equity for several years. James Rothstein, a 30-year executive in the security industry and Chairman-Elect of the Security Industry Association, joined Lee Equity as an Operating Partner in April 2021. Rothstein works exclusively with Lee Equity to source and evaluate investments in the fire and life safety services segment and will serve as a Board Member of Unlimited Technology. Bill Bozeman, who served as the CEO of PSA Security Network for more than 20 years, will also serve as a Board Member of Unlimited Technology.
Unlimited Technology’s work on the Manhattan West project in New York City was also recently profiled in the in November issue of Security Business magazine, which named it the 2021 Security Vanguard Project of the Year. Click here to read the full article.
