Norshield Corp. Splits from CompuDyne
December 18, 2009
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
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."
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