March 3, 2008—Newell Rubbermaid has agreed to acquire Technical Concepts Holdings, LLC, a provider of innovative restroom hygiene systems for several high-growth segments of the away-from-home (AFH) washroom category, for approximately $445 million.
Technical Concepts’ products include touch-free and automated health, wellness and odor control solutions, as well as proprietary refills, which are a key component of recurring revenue.
The transaction, which is subject to regulatory approval and customary closing conditions, is expected to close in the first half of 2008. It is anticipated to be neutral to earnings in 2008 and accretive in 2009.
For the year ended Dec. 31, 2007, Mundelein, Ill.-based Technical Concepts reported net sales of approximately $137 million.
Newell Rubbermaid estimates there are 25 million public AFH washrooms around the world, with significant opportunity for additional penetration of Technical Concepts’ systems. Amid an increasing public concern for hygiene and the transmission of infectious diseases, facilities managers for airports, educational institutions, commercial buildings and other spaces are installing washroom solutions to provide end-user peace of mind and reduce resource costs.
Technical Concepts and Rubbermaid Commercial Products share many of the same distribution channels and customer sets, providing the opportunity for meaningful improvements to customer service and continued growth.
For more information visit the Rubbermaid Commercial Products Web site.
