Household goods company Newell Brands Inc. said Feb. 26 the company will sell its home cleaning business Rexair to investment funds affiliated with New York-based private equity firm Rhone Capital LLC.

Rexair recorded net sales of approximately $123 million in 2018. The company expects to complete the deal by the end of the second quarter.

The transaction is subject to customary closing conditions, including regulatory approval.

Financial terms of the deal were not disclosed. BMO Capital Markets acted as financial adviser to Newell Brands.

In December 2018, New Jersey-based Newell Brands sold its Pure Fishing Inc. and Jostens Inc. units to two private equity firms.