PE Firm Pays $214M For Rubbermaid Owner's Hardware Unit

Law360, New York (August 9, 2013, 4:29 PM EDT) -- The Atlanta-based firm that owns Rubbermaid, Sharpie and other brands entered a definitive agreement Friday to sell its hardware division for $214 million Friday to a private equity firm as it looks to trim operations and shift focus to expanding overseas. 

Equity management firm Nova Capital Management Ltd. snatched up the hardware unit of Newell Rubbermaid Inc., which expects the unit to generate $255 million in total sales overall in 2013.

“The successful sale of our Hardware business will leave us with a focused, cohesive portfolio...
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