Details
As part of the transaction, Enviri shareholders are expected to receive between $14.50 and $16.50 per share.
The shareholders retain full ownership of the Harsco Environment and Railways companies, which will be spun off into a new listed company.
The boards of directors of both companies unanimously approved the transaction, which is expected to close in mid-2026, subject to shareholder and regulatory approval.
In connection with the completion of the Clean Earth sale, Enviri will spin off Harsco Environmental and Rail to shareholders, who will receive 0.33 shares of New Enviri per Enviri share.
Management expects that there will be approximately 28 million New Enviri shares outstanding at closing, with central operating expenses at New Enviri being appropriate.
The Board of Directors will finalize the cash proceeds to shareholders prior to closing, after taking into account debt service and transaction costs.
Enviri plans to retire approximately $1.35 billion in debt, leaving New Enviri with a strong balance sheet: net debt of ~2.0x adjusted EBITDA, an undrawn revolver, and a solid cash position.
Management commentary
Enviri Chairman and CEO Nick Grasberger said: “In addition to the significant cash consideration that shareholders will receive, we are also positioning New Enviri to achieve its objectives and create shareholder value over time.”
“As a market-leading provider of innovative services and products, New Enviri will have a strong capital structure and an improving cash flow profile. We remain focused on continuing to take actions to stabilize Harsco Rail, while leveraging innovation and service opportunities to support Harsco Environmental’s leadership and growth.”
Price promotion: NVRI shares were trading up 33.60% at $18.13 premarket at last check Friday.
Read next:
Photo by Fit Zstudio via Shutterstock
Market news and data powered by Benzinga APIs
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
#Enviri #stock #soaring #Friday #Enviri #NYSENVRI