Hoboken-based Newell Brands announced Monday it has agreed to sell its Process Solutions business to One Rock Capital Partners, a private equity firm.
Newell’s Process Solutions business manufactures custom-designed plastic, nylons, monofilament, and zinc products.
Newell said after-tax proceeds for the divestiture are expected to be $500 million.
Credit Suisse Securities LLC acted as a financial adviser to Newell on the deal, which is expected to close in the second quarter of 2019.
Other terms were not disclosed.
