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Norshield Holdings acquires Norshield Corp.

Post Time:Dec 18,2009Classify:Industry NewsView:108

Dec. 6, Norshield Corp., Montgomery, Ala., was acquired in a transaction with management by Norshield Holdings LLC, owned by members of Spell Capital Partners, a private equity group out of Minneapolis, and our management team, according to a Dec. 17 release. The company will continue to operate the existing business and all business going forward under the name of Norshield Security Products LLC. The transaction was structured as a stock sale and involved a complete separation from CompuDyne, the Gores Group and all of its affiliate companies, including Norment Security Group, Fiber Sensys, Tiburon and Signami DCS, according to the release. Norshield Corp. will continue to operate from its existing plant in Montgomery, and telephone and fax numbers will remain the same, according to the release. “We are excited about this announcement for several reasons, but especially for what this means to our customers, suppliers, vendors and our employees,” Gary Hart, Norshield Security Products president said in the release. “As a member of a controlled operating company, we will be better equipped to run and manager our business going forward.”

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