Newell Rubbermaid completes sale of Teach platform
ATLANTA — Newell Rubbermaid has announced the sale of its Teach platform, including the Mimio and Headsprout interactive teaching technology brands, to Skyview Capital, LLC, a Beverly Hills, Calif., private equity firm.
Terms were not disclosed. The transaction has closed with the signing of the agreement.
“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.
Newell Rubbermaid a global marketer of consumer and commercial products with 2012 sales of approximately $5.6 billion. Its portfolio of brands includes Sharpie, Paper Mate, Rubbermaid Commercial Products, Irwin, Lenox, Parker, Waterman, Rubbermaid, Levolor, Calphalon, Goody, Graco, Aprica and Dymo.
As part of the company’s growth game plan, Newell Rubbermaid is focusing on making sharper portfolio choices and investing in new marketing and innovation to accelerate performance.