ABC shores up non-core asset sale to Mace
July 8, 2004
LEWISVILLE, Texas - American Building Controls continued on its reorganization path late last week, announcing that it completed the sale of two non-core businesses to Mace Security.
The $5.65 million deal involved the sale of SecurityandMore, a retail consumer product operation, and Industrial Vision Source, an industrial distribution business. In March officials at American Building Controls identified the two businesses as no longer part of its strategy.
According to Danny Mills, chief executive officer of American Building Controls, the sale enables the company to focus on its existing businesses. That includes its MDI Security Systems, its access control business, and ABM Data Systems, a provider of alarm management software.
For Mace Security, the acquisitions strengthens its reach in the physical security market. The company, well-known for its Mace brand of pepper spray, entered the security market in late 2002, when it purchased a small camera manufacturer.
This deal, however, represents Mace SecurityÃ¢â‚¬â„¢s largest acquisition to date. Prior to its acquisition of SecurityandMore and Industrial Vision Source, Mace Security reported sales of $5 million. With those two companies onboard, sales are now at an estimated $25 million a year.
For more on this story, see the August issue of Security Systems News.