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Norshield Corp. Splits from CompuDyne

Post Time:Dec 21,2009Classify:Company NewsView:547

On December 6, Norshield Corp. was acquired in a transaction with management by Norshield Holdings LLC, owned by members of Spell Capital Partners, a Minneapoli-based private equity group, and its management team. Going forward, the company will operate under the name 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.

The company will continue to operate from its existing plant in Montgomery, Ala.

In a letter to customers, president Gary Hart commented, "We are excited about this announcement for several reasons but especially for what this means for our customers, suppliers, vendors and our employees. As a member-controlled operating company, we will be better equipped to run and manage our business going forward."

Source: usgnnAuthor: shangyi

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