CLEVELAND – Mace Security, based here, announced the sale of its electronic surveillance business this week to Houston-based SecureCheck. Terms of the all-cash deal were not disclosed.
“SecureCheck LLC is the right partner for Mace due to their expertise and their commitment to customer service. It is very important for Mace Branded customers to have the same positive experience regardless of the product or service provided,” says John McCann, president and CEO of Mace Security.
The companies have begun to transfer responsibility for the business and anticipate the shift will be complete before the end of the year.
Mace recently reported a profitable second quarter and anticipate continued profitability in the third quarter and beyond, according to a company press release.
Details of the Deal
- SecureCheck will promote and support the Mace brand of electronic surveillance products
- SecureCheck will also pay Mace an ongoing royalty for use of the Mace brand
- Deal allows Mace to further focus on consumer and tactical markets
- Future royalty streams helps to insure future profitability for Mace Security International
“SecureCheck LLC, a leading security solutions provider is proud to be the newest member of the MACE family. Our strategic partnership with this world class, internationally-renowned brand is a perfect fit, and a great addition, to our portfolio of security services and products. There is unlimited potential for success with the combined resources of our two companies,” says SecureCheck CEO Jack Molho.
