Professional Carwashing & Detailing

Mace sells TX carwash for $2.1 million

March 6, 2012

ARLINGTON, TX — Mace Security International Inc. announced today that it has sold its carwash here for $2.1 million, a BusinessWire press release reported.

The March 6 press release said Mace now has two carwashes left, one of which is owned and the other is under a lease agreement.

“Mace is almost debt-free with the sale of this carwash and in a stronger financial position,” John McCann, Mace’s Chief Executive Officer and President said in the press release. “We are committed to executing our strategy of focusing on our core security business, exiting the carwash business and building a company for future growth.”

The book value of the carwash was listed at $2 million last December. Mace netted $1.57 million from the sale after paying off a mortgage debt of $512,000.

Last March, PC&D reported that Mace Security International Inc., the manufacturer of personal defense and electronic surveillance products and former operator of one of the largest conveyor carwash chains in the industry, had just sold its Lubbock, TX, location for $1.7 million.