Devcon International has been kind of a Jekyll and Hyde company. Even on the company's webpage, www.devc.com, visitors are prompted to click left for security services and click to the right for construction.
That may soon be a thing of the past. On Wednesday, Devcon International formally announced that it may soon be rid of its construction division, which was the original start of the company; security came later. According to a statement from Devcon, it has executed a letter of intent to sell almost all of its construction division to The Symonette Group, an investment coalition. The expected value of that sale would be around $12.2 million.
That will leave Devcon focused on its electronic security services in the commercial and residential markets, primarily in Florida, New York and Staten Island.