Schiff Hardin LLP represented Newell Brands on the deal
Newell Brands (NASDAQ: NWL) continues to make progress on its Accelerated Transformation Plan, designed to create a simpler, faster, stronger consumer-focused portfolio of leading brands and today announced that it has signed a definitive agreement to sell its Rexair business to investment funds affiliated with Rhône Capital, a global private equity firm, specializing in mergers and acquisitions, leveraged buyouts, recapitalizations, and partnerships with particular focus on European and trans-Atlantic investments.
Since 1936, Rexair has developed and manufactured innovative Rainbow® products designed to improve indoor environments for customers around the world. In 2018, net sales for the Rexair business were approximately $123 million.
BMO Capital Markets acted as financial advisor to the company on the Rexair deal, which is expected to close by the end of the second quarter, subject to customary closing conditions, including regulatory approval.
Schiff Hardin LLP represented Newell Brands with a team including Turner J. Binkley, David P. McHugh (Picture) and Sara Rosenberg.
Law Firms: Schiff Hardin LLP;
Clients: Newell Brands Inc.;