Enviri Corporation announces sale of Reed Minerals
Enviri Corporation (NVRI)
Company Research
Source: GlobeNewswire
PHILADELPHIA, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE: NVRI) announced today that it has sold its Reed Minerals business to Speyside Equity for $45 million in cash, subject to post-closing adjustments. Enviri expects to use the net cash proceeds from the transaction to reduce debt and further strengthen its balance sheet. Importantly, the Company has now surpassed its 2024 asset sale goal of $50 to $75 million of proceeds with this transaction. Speyside Equity is a global private equity firm with $1.6 billion under management. It invests in industrial and manufacturing companies and has successfully invested in markets relevant to Reed Minerals in the past. “Divesting Reed Minerals is yet another noteworthy transaction for Enviri as we continue to transform our business portfolio to focus on core markets and reduce our financial leverage,” said Enviri Chairman and CEO Nick Grasberger. “As with our other business transactions, the sale of Reed Minerals will furth
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