MONTGOMERY, Ala. — Norshield Security Products separated from affiliates Norment Security Group and Fiber Sensys after Norshield leadership engineered a management buy-out from parent company Compudyne.
The deal, which was structured as a stock sale and announced in December, initiated a complete separation of Norshield from CompuDyne and all its affiliated companies. The Norshield management team acquired the company with the backing of Minneapolis private-equity group Spell Capital Partners.
Existing company president Gary Hart will continue in his leadership role at Norshield, which will operate under the business name of Norshield Security Products LLC. The company will continue to operate out of its existing manufacturing facility in Montgomery.