LOS ANGELES , May 11 /PRNewswire/ -- A group led by CW No. 1, LLC ('CW1') increased to $39,000,000 it's all cash offer to Mace Security International, Inc. (Nasdaq: MACE) today to purchase 36 of Mace Security's 48 existing car wash locations.
CW1's $39,000,000 enhanced offer was delivered to the Mace Security International's Board of Directors today, and CW1 anticipates a prompt response and a relatively quick approval and closing time-frame.
The 36 Mace Security International car washes that are the subject matter of CW1's offer are located in Florida, Texas, New Jersey, Pennsylvania and Delaware.
Mace Security International has on several occasions publicly announced its intention to sell all of its car washes and invest in its security segment.
CW1 with partners including Ardake Partners II, a private equity fund, develops real estate, purchases and operates car washes on owned and leased real property both regionally and nationally.
ABOUT Mace Security International, Inc. -- Mace Security International, Inc. is a manufacturer of electronic surveillance and personal defense products, and an owner and operator of car and truck wash facilities.
ABOUT CW No. 1, LLC -- CW No. 1, LLC invests in and develops real estate properties, and develops, purchases, and operates car washes on owned and leased real property both regionally and nationally.
SOURCE CW No. 1, LLC
