CLEVELAND — Mace Security Int’l (OTCQX: MACE) has acquired Vigilant Personal Protection Systems in an asset purchase agreement. Terms of the transaction were not disclosed.
Vigilant, an e-commerce marketing company in personal security and home medical products, will join the Mace family effective immediately.
David Happe, the founder and CEO of Vigilant, will join Mace as an executive vice president reporting directly to the CEO. Happe is a 25-year veteran of the retail industry, including corporate purchasing experience for Best Buy Company and Wal-Mart Stores (Sam’s Club).
“Timing of the acquisition was perfect for both companies; with the power of the Mace brand we will be able to provide more products, services and solutions to our retail partners and consumers,” says Happe.
SSI spoke with Happe in 2016 when his company began selling low-cost video surveillance kits manufactured in Asia and sold online to U.S. consumers, with plans to also market the equipment in big box stores. The kits were intended to be professionally installed, with Vigilant paying a flat $100 fee to licensed contractors to install four- and eight-camera kits purchased by consumers.
Currently based Tampa, Fla., Vigilant operations will be moved to Mace’s current facilities. The company expects to add additional staff to handle the expected growth from the acquisition. In an announcement, Mace says the acquisition will be immediately accretive to earnings.
“Mace and Vigilant had a great relationship prior to the acquisition and the acquisition makes a lot of sense for both companies, as e-commerce will be a big part of Mace’s future growth plans,” says Mace Security President and CEO John McCann. “David Happe brings extensive expertise, experience and passion to this dynamic channel.”
Carleton McKenna & Co. assisted Mace in the acquisition process.
