Mace Security Intl. Inc. (MACE) announced that it has sold three Genie car wash facilities located in Austin, Texas. The sales price for the transaction was $8.0 million with the company netting $5.6 million in cash after closing costs and after paying off related debt of $ 2.15 million.
With the sale, the corporation has exited the Austin car wash market. Mace currently owns seven car wash locations and leases one location in Texas.
The company noted that its debt position is just under $3 million at November 30, 2009.
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