Newell Rubbermaid announce sale of hardware business to Nova Capital Newell Rubbermaid announced it has entered into a definitive agreement to sell its Hardware business, which includes the Amerock, Ashland, Bulldog and Shur-Line brands, to Nova Capital. The transaction is expected to close within calendar Q3 subject to certain customary conditions. Hardware business sales for this year are estimated to be approximately $255M. Gross proceeds from the transaction are expected to be $214M, which includes the retention of accounts receivable. The company anticipates after-tax cash proceeds of approximately $175M. Rothschild acted as financial advisor to Newell Rubbermaid on this transaction.
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