Mace Security International of Cleveland announced it has sold its electronic surveillance business to Houston-based SecureCheck LLC.
Terms of the deal were not disclosed, but SecureCheck is paying Mace cash for the business, according to a news release from the companies. SecureCheck will also promote and support the Mace brand of electronic surveillance products and pay Mace an ongoing royalty for use of the brand.
In the release, the companies said they’ve begun to transfer responsibility for the business and anticipate the shift will be complete before the end of the year. Also, Mace and SecureCheck said they anticipate being able to launch new products and services under the Mace brand name next year.
“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,” John McCann, president and CEO of Mace, said in the release.
Mace recently reported a profitable second quarter and in the release said it anticipates continued profitability in the third quarter and beyond.
“We believe this transaction with SecureCheck will build on that profitability in the months and years to come,” notes Mace board chairman Richard Barone in a statement.
In the release, SecureCheck CEO Jack Molho said the “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,” he added.