Cleaning & Restoration Breaking News

US Industries Reports 29.5% Stake In Megapro Tools

WASHINGTON -(Dow Jones)- U.S. Industries Inc. owns a 29.5% stake in MegaPro Tools Inc., according to a Schedule 13D filed Monday with the Securities and Exchange Commission.

U.S. Industries, through its 100% owned subsidiary, USI Global, said it beneficially owns 3.5 million shares of MegaPro's common stock, and through some provisions may be deemed to be the beneficial owner of an additional 6 million common shares, representing a 50% stake in MegaPro.

U.S. Industries agreed to sell its U.K. unit, Spear & Jackson PLC, to MegaPro for the stake and other considerations. U.S. Industries said the sale, together with the recent sale of its SiTeco Lighting business, completes its disposal plan adopted in December.

MegaPro Tools manufactures tools and accessories.

U.S. Industries owns several major businesses selling bath and plumbing products, along with its consumer vacuum cleaner company.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.



Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.


Yes, it's only February now - several weeks or months before the thaw depending on where you live - and hopefully this winter has been a profitable one for your business during the historical slow season. But now's also the time to start planning for the busy season - spring - so that you can hit the ground running. In this episode of The Hitman Advertising Show, John Braun shares tips and tricks on how to make this spring your most profitable yet.
More Podcasts

ICS Cleaning Specialist Magazine


2015 March

The March ICS issue features content on cleaning services, green chemistry, encapsulation, terrazzo floors, educating clients and new products.

Table Of Contents Subscribe

Janitorial Work

In addition to residential and commercial carpet cleaning, do you do any janitorial work on the side?
View Results Poll Archive


The Carpet Cleaner's Book of Unlimited Success! (ebook)

Don’t worry about the recession or about your competition.  Now you can be the owner of over 400 ways for carpet cleaning professionals to make more money and get more jobs!

More Products


Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view


facebook_40.png twitter_40px.png youtube_40px.png


Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view