Newell Rubbermaid simplifies portfolio
In a move to focus on its core businesses, Atlanta-based Newell Rubbermaid sold its Teach platform, including the Mimio and Headsprout interactive teaching technology brands, to Skyview Capital, a Beverly Hills, Calif., private equity firm.
“Our Growth Game Plan is designed to accelerate performance by setting clear priorities for our business. This transaction further simplifies our portfolio as we continue to invest behind our highest-potential global growth opportunities,” said Michael Polk, Newell Rubbermaid’s president and CEO.
Terms were not disclosed. The transaction has closed with the signing of the agreement.
Newell brands include tool-focused Irwin, Hilmor and Lenox, along with home products Rubbermaid, Levolar, Sharpie and Rolodex.