Melrose sells Ergotron unit for $650m

Melrose Industries said it had sold its Ergotron business to funds managed by The Sterling Group for ly $650m (£520m) in cash.

Ergotron designs, makes and distributes ergonomic products for use in a variety of working, learning and healthcare environments, Melrose said on Monday.

Completion is expected to occur in the third quarter of 2022 and is conditional upon US antitrust approvals. Melrose added that it would announce how it intends to use the net proceeds from the disposal at that time.