Flamemaster Gains Control of PerfectData

The Flamemaster Corp., a Sun Valley maker of sealants and coatings, and its affiliates have increased their stake in PerfectData Corp. to 33.3%, which gives the Flamemaster Group controlling interest in the Simi Valley company.

Flamemaster has been buying shares of PerfectData, a maker of computer and office-maintenance products, since early this year. In July, Flamemaster reported that it owned 833,500 shares, or about 24.4%, of PerfectData’s outstanding shares. Flamemaster said its latest filing with the Securities and Exchange Commission shows it has since bought an additional 320,500 shares in the open market at prices ranging from $1.11 to $1.56 a share.

Flamemaster also said in its SEC filing that Flamemaster’s chief executive, Joseph Mazin, had been elected by PerfectData’s board to be president and chief executive officer of PerfectData. In October, PerfectData’s chairman and chief executive, Lee R. Mannheimer, said he was voluntarily stepping down pending an investigation into his possible role in an alleged, and unsuccessful, murder-for-hire plot against his estranged wife.