Mace Security International Acquires Washington Labs

Acquisition enhances Mace’s substantial share of the non-lethal defense
spray market

CLEVELAND–(BUSINESS WIRE)–Mace Security International (OTCQX: MACE) and Washington Labs LLC
announced today that they have finalized the agreement, originally
announced on January 18th, 2017 to acquire Washington Labs.
Per the agreement, Mace has acquired all of Washington Labs assets,
rights and properties for an undisclosed sum of cash and stock. The
transaction reinforces Mace’s brand position as a leader in the less
lethal defense spray category throughout the world. Production and
distribution will be integrated into Mace’s existing facility in
Cleveland, Ohio, and the company will be adding additional staff to
support expected growth. To insure an efficient transition, the company
has hired John R. McVay to lead the sales and operations of Washington
Labs. John has an abundance of experience in sales, marketing and
operations and will be working closely with Larry Harris to integrate
the companies and the implement our future growth and branding
strategies.

The acquisition benefits Mace, its customers, partners and shareholders
in several ways, including:

  • An array of best in class products and services platforms
  • Increased manufacturing synergies and efficiencies
  • New product and category opportunities and partnerships
  • New marketing and sales opportunities for all partners (multi-brand
    solutions)

The goal of the combined entity will be to grow the defense spray
category by partnering with current customers on products, strategies
and programs. “Having acquired Washington Labs, we are most excited
about being able to offer dual-brand solutions and products to our
customers,” stated John McCann, President and Chief Executive Officer of
Mace Security International.

Barring any unforeseen circumstances not uncovered during the thorough
due diligence process, we expect this transaction to be immediately
accretive to earnings and should provide additional impetus to our drive
to grow both revenues and earnings.

About Mace Security International, Inc.

Mace Security International, Inc. is a globally recognized leader in
personal safety and security. Based in Cleveland, Ohio, the Company has
spent more than 40 years designing, manufacturing, and distributing
consumer and tactical products for personal defense, security and
surveillance under its world-renowned Mace® Brand – the
original trusted brand of pepper spray products. The Company also offers
aerosol defense sprays and tactical products for law enforcement and
security professionals worldwide through its Mace® and
Take Down® brands.

Mace Security International distributes and supports Mace®
Brand products and services through mass-market retailers, wholesale
distributors, independent dealers, e-commerce marketers and installation
service providers. For more information, please visit www.mace.com.

Forward-Looking Statements

Certain statements and information included in this press release
constitute “forward-looking statements” within the meaning of the
Federal Private Securities Litigation Reform Act of 1995. When used in
this press release, the words or phrases “will likely result,” “are
expected to,” “will continue,” “is anticipated,” “estimate,”
“projected,” “intend to” or similar expressions are intended to identify
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such statements are subject to
certain risks, known and unknown, and uncertainties, including but not
limited to economic conditions, dependence on management, our ability to
compete with competitors, dilution to shareholders, and limited capital
resources.

Contacts

Mace Security International, Inc.
John J. McCann, 440-424-5322
President
and Chief Executive Officer
john@mace.com