NEW YORK–(BUSINESS WIRE)–Unlimited Technology, Inc. (“Unlimited Technology”), one of the nation’s leading providers of security systems integration solutions, today announced their partnership with Virginia-based Integrated Security Technologies, Inc. (“IST”), a security integrator specializing in government, healthcare, education, data center and commercial sectors. This partnership is the first for Unlimited Technology, which recently received an investment from private equity funds managed by Lee Equity Partners.
IST is one of the nation’s most trusted independent security integrators and designs, integrates, installs, and maintains comprehensive solutions for the most complex IT, electronic, physical and cybersecurity challenges. With a unique full lifecycle approach to ensure absolute protection, IST provides the most advanced security and safety systems, including total door openings, integrated and logical access control, video surveillance, intrusion detection, and compliance tracking. SDM Magazine ranked IST as the #16 Top System Integrator in North America for 2021.
Compelling Strategic Fit
The combination is seen by both businesses as a strong strategic fit, aligning with Unlimited’s strategy to provide security solutions with premier customer service and innovative technologies to critical infrastructure end markets. IST’s experienced management team, including CEO Alexander Oppenhimer, COO Michael Margolis, Chief Strategy Officer Michael Ruddo, and President Jon Langhorst, will continue to lead IST and will retain meaningful equity ownership in the go-forward business.
“This partnership expands our leadership position in the Eastern Seaboard and adds expertise serving the highly regulated Federal Government sector. We are excited to partner with IST’s team of highly trained, seasoned security experts who have successfully managed hundreds of complex, large-scale integrated security and IT projects throughout the United States,” said John Palumbo, CEO of Unlimited Technology.
“Since our founding in 1997, IST has grown to become the largest independent systems integrator in the Washington, D.C. region. We evaluated many strategic options for the future of IST and are pleased to have selected Unlimited Technology as the best partner to advance our shared vision,” said Alexander Oppenhimer, CEO of IST. “We look forward to partnering with John and the entire Unlimited Technology team to expand our combined client bases, geographic footprint, and service offerings.”
“Unlimited and IST share a strong commitment to providing the highest quality of technology solutions and outstanding customer service, as evidenced by their long-term customer relationships, making the partnership a natural fit,” said Ryan Fossella, Principal at Lee Equity.
Financial terms of the transaction were not disclosed. Sandra Jones and Company acted as Financial Advisor to IST.
About UNLIMITED TECHNOLOGY
Unlimited Technology is a best-in-class provider of physical security, network security, cybersecurity, managed services, and compliance solutions with an emphasis within the critical infrastructure sector. Unlimited Technology provides end-to-end technology solutions to meet the comprehensive security requirements of their customer. Unlimited Technology is headquartered in Chester Springs, PA and serves a diverse customer base across North America, including critical infrastructure, transportation, commercial real estate, financial, municipal, and education end-markets. For more information, visit www.UTIGlobal.com.
About LEE EQUITY PARTNERS
Lee Equity Partners is a New York-based private equity firm that partners with successful management teams to build companies with strong growth potential. Lee Equity targets equity investments of $50 million to $150 million in middle-market control buyouts and growth capital financings in companies with enterprise values of $100 million to $500 million that are located primarily in North America. The firm invests in a range of industries where the team has deep relationships developed over decades, including business services, financial services, and healthcare services. Visit www.LeeEquity.com.