Mace now has more cash on hand
Mace continues to sell off its car washes, which gives the company cash with which to grow its security business, whether through sales and marketing spend or through acquisition. Considering leadership's recent comments, I'd be shocked if they don't buy somebody this year. The question is whether they're looking to add technology or a dealership base or a customer base. Obviously, all three wouldn't be bad. The way I read the release, they're adding about $3.5 million in cash to the reserves right away. Eduardo Nieves, Mace VP, made a point in a recent interview of noting Mace's cash reserves and pointing out that this allows the company to eye acquisitions as part of its growth strategy, with a central station being a possible addition. Look for an interview with new Mace security division president John O'Leary in our February issue.