News Release

Carlyle agrees to sell Amecor

26 January 2024 – Global investment firm Carlyle (NASDAQ: CG) today announced it has agreed to sell Amecor, a South African designer, manufacturer and distributor of security communication equipment, to ASSA ABLOY Group. The financial details of the transaction were not disclosed.

Founded in 1994, Amecor is a leading supplier of intelligent security solutions to security companies across Sub-Saharan Africa. The business is headquartered in Johannesburg and has approximately 120 employees. Amecor is responsible for the research, development, manufacture and distribution of hardware devices and for the expansion and management of network services, allowing its customers to provide superior security solutions to their clients.

Through its Carlyle Sub-Saharan Africa Fund (“CSSAF”), Carlyle acquired Amecor in 2019. Alterra Capital Partners (“Alterra”), a private equity firm formed in 2020 by former members of Carlyle’s CSSAF team, became adviser with respect to CSSAF’s investments including Amecor.

During Carlyle’s ownership period, Alterra worked closely with Amecor management to shift the company’s focus from the sale of hardware to the provision of network services. Over the past four years it has more than doubled the subscriber base to over 600,000 monthly users, which has resulted in Amecor increasing recurring revenue to over 70% of total sales. Amecor has also continued to invest in product development and has brought several new technologies to market.

Claire Halliday, Director of Amecor, said: “This is a significant milestone in Amecor’s history and I am excited for the future of the business. Joining forces with ASSA ABLOY as a global leader in access solutions will drive innovation and allow us to expand even further. I would like to express my thanks to Carlyle and Alterra who have been strong partners and have helped us build the Amecor business into what it is today.”

Bruce Steen, Partner at Alterra, said: “It has been a privilege to work with Guy, Claire and the rest of the Amecor team over the last four and half years. Together we have delivered on our value creation strategy for the business and I am delighted to see its strong momentum. I wish the team all the best for the future.”

About Amecor

Amecor is an integrated security solutions provider that manufactures and provides specialized security communication equipment together with the supporting network infrastructure for signal transmission to security companies across Sub-Saharan Africa. Amecor operators through two divisions: FSK Electronics Division: which conceptualizes, designs and manufactures a range of radio and cellular based communications and associated security sector products; and Sabre Networks Division: an integrated network platform which relays signals to security company control rooms.


About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $382 billion of assets under management as of September 30, 2023, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 28 offices across four continents. Further information is available at Follow Carlyle on X and LinkedIn.


About Alterra Capital Partners

Alterra is an experienced pan-African private equity fund manager dedicated to investing in Africa. The Alterra team, operating out of offices in Johannesburg and Nairobi, has led over $1.0 billion of private equity investments into 23 companies across Africa. Alterra’s core focus sectors include business services, healthcare, technology, and telecommunications.




Andrew Kenny

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