Dec. 1, 2010 -- Mace Security International is continuing to focus its business purely on security, most recently by divesting itself of its subsidiary Linkstar Corporation. Northside Advisors LLC, an investment bank, served as the financial advisor in the sale of Linkstar, which was announced Monday.
"The completion of this sale of non-core assets is one of the final steps towards our goal of becoming a security focused company," said Dennis Raefield, CEO and President of Mace.
Linkstar Corporation is an online product marketing company designed to support consumer brands in e-commerce. It has predominantly served to market health and beauty products. According to a Form 8-K filed with the Securities and Exchange Commission, Linkstar was acquired by Silverback Network for $1.1 million.
The sale of Linkstar follows a number of divestitures of non-security business units that were previously owned by Mace, including a string of car washes. Northside Advisors' managing partner Michael Rosenberg noted that the company has very few of these legacy non-core assets left, and said he thought Mace is in "a real turn-around situation" with "good momentum to produce cash flow."
Mace Security International is perhaps best known for its Mace brand pepper spray personal defense solutions. In addition the firm also offers electronic security product lines that include door access control solutions, video surveillance camera and recording solutions, as well as burglar/intruder alarm products. The firm offers both professional and consumer-level versions of its video surveillance products. In the April 2009, Mace purchased a central monitoring station, which Rosenberg said has allowed the company to provide monitoring services to small- and mid-sized security dealers.