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Newell Rubbermaid to Grow Commercial Products Platform with Agreement to Acquire Technical Concepts
Date:2/27/2008

Adds new categories and global scale in rapidly growing away-from-home

washroom market

ATLANTA, Feb. 27 /PRNewswire-FirstCall/ -- Newell Rubbermaid (NYSE: NWL) today announced it has signed a definitive agreement to acquire Technical Concepts Holdings, LLC, ("Technical Concepts") a leading global 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.

The acquisition of Technical Concepts will add substantial scale to Newell Rubbermaid's Commercial Products global business unit, creating a leading position in the $2.5 billion worldwide AFH washroom category. In addition, with approximately 40 percent of sales outside the U.S., Technical Concepts is expected to significantly increase the combined entity's global footprint.

"Our Rubbermaid Commercial Products brand is a key engine of growth for Newell Rubbermaid," said Larry McIsaac, president of Newell Rubbermaid's Commercial Products global business unit. "This acquisition fits our strategy to expand our core platforms into product categories where brands matter and customers place a premium on innovation."

Added Jack Vresics, president and chief executive officer of Technical Concepts, "As a high-quality supplier able to meet all of the broad, technically advanced AFH washroom needs, we can even more rapidly accelerate our
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SOURCE Newell Rubbermaid
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