Nova Capital Management (‘Nova’) is pleased to announce that it has entered into a conditional agreement to sell its portfolio company, Ashland Hardware (‘Ashland’), to Tyman plc for a price of $101m.
Further details on the transaction are contained in the attached announcement released by Tyman plc this morning.
Nova acquired Ashland as part of a portfolio acquisition of 5 businesses from Newell Rubbermaid (now Newell Brands) in September 2013. Profits at Ashland have more than doubled under Nova’s ownership.
Nova was advised on the transaction by Robert W. Baird & Co., Reed Smith LLP and Deloitte LLP.
For further information contact:
David Williamson: firstname.lastname@example.org
Jane Kingdom: email@example.com