HOBOKEN, N.J., U.S. — Newell Brands announces that it has signed a definitive agreement to sell its Process Solutions Business to One Rock Capital Partners, LLC, a private equity firm focused on control-stake equity investments in middle-market companies in North America.
Process Solutions, inclusive of Plastic Solutions, Lifoam, Consumer Table Top, Zinc Products and Applied Materials, manufactures custom-designed plastic, nylons, monofilament, and zinc products that solve both industrial and consumer challenges.
After-tax proceeds for the divestiture are anticipated to be $500 million, subject to customary working capital and transaction adjustments. In 2018, net sales for Process Solutions were approximately $640 million.
Credit Suisse Securities (USA) LLC acted as financial advisor to the company on the Process Solutions deal, which is expected to close in the second quarter of 2019, subject to customary closing conditions, including regulatory approval.
About Newell Brands
Newell Brands (NASDAQ: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Marmot®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, and Yankee Candle®. For hundreds of millions of consumers, Newell Brands makes life better every day, where they live, learn, work and play.