One down, three to go for Mace; ADT on Good Morning America
Mace took another step toward its goal of becoming a pure-play security company this week, with the sale, announced Monday, of its Arlington, Texas car wash.
A manufacturer of personal defense spray, security products, and owner of CSSS, a wholesale monitoring station, Mace still owns three car washes. Two are under agreement and one is under lease.
The sales price for the Arlington, Texas was sold for $350,000. Mace received $279,000 in cash after paying off a related mortgage and closing costs. I wrote about Mace's progress last month. The remaining car washes will bring extra cash (some of which will be used to pay the remainder of a $4.6 million settlement to Louis Paulino the company's former CEO) One car wash is valued at $1.8 million, another at $775,000, and the final one at less than $100,000.
Mace CEO Dennis R. Raefield, said in a statement, “We are pleased to announce this sale in our continued progress in exiting the car wash business. We anticipate a complete exit in Q1-2011.”
In separate, unrelated news, ADT’s new interactive services product Pulse was scheduled to be featured on Good Morning America at 9 a.m. this morning. Allison Rhodes, the “safety mom” was scheduled to talk about ADT’s product. And, if you saw a guy waving an ADT sign (blue, octagonal and trademarked, by the way) outside the NBC studio on this cold January morning, that would be a frozen Floridian, Bob Tucker, ADT spokesman.