Mace Security International Sells Texas Car Wash

TexasBusiness.com


Mace Security International Sells Texas Car Wash | Mace Security, car wash, Arlington, dal_ftw_txbz,

Texas Business reports:  A Pennsylvania-based security firm sold off an Arlington, Texas car wash, the company announced in a prepared statement.

Mace Security International Inc. sold an oil lubrication and self-serve car wash facility for $350,000.

With the sale, the company has three remaining owned car washes, two of which are under agreements of sale and an additional car wash under lease.

The sales price for the Arlington business allowed Mace Security to net $279,000 in cash after paying off a related mortgage and closing costs.

“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,” said Mace chief executive Dennis R. Raefield in a prepared statement.

Mace Security International, Inc. is a manufacturer of personal defense and electronic surveillance products marketed under the famous brand name Mace, and the owner and operator of a wholesale central monitoring station.