U.S. (Notifix) -. Rubbermaid Inc. announced that it has closed the sale of its hardware business to Nova Capital investment fund.

The sale includes the furniture fittings brands Amerock, Ashland, and Shur-Line Bulldog.The transaction provides Newell Rubbermaid with a more cohesive and focused portfolio of brands in five core business segments. As previously announced, gross proceeds from the transaction were $214 million, which includes the retention of accounts receivable. The company will receive after-tax cash proceeds of approximately $175 million.