Industrial Machinery & Equipment M&A » By The Online Investor Staff, updated Fri., Jun. 9, 6:37 AM
Recent mergers and acquisitions in the Industrial Machinery & Equipment M&A category.
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Slide #86. Clayton, Dubilier & Rice — Harsco Corporation Infrastructure division
Acquirer:
Clayton, Dubilier & Rice
Acquiree:
Harsco Corporation Infrastructure division (NYSE:HSC)
Details:
Diversified global industrial company Harsco Corporation (NYSE:HSC) today announced an agreement to sell Harsco's Infrastructure division into a joint venture with Clayton, Dubilier & Rice ("CD&R") under a transaction that will combine the Infrastructure division with Brand Energy & Infrastructure Services, Inc. ("Brand"), which CD&R is simultaneously acquiring from First Reserve. The combined company, which will continue under the name Brand Energy & Infrastructure Services, will be a leading, single-source provider of specialized industrial services to the worldwide energy and infrastructure sectors. Upon closing of the transaction, Harsco will receive cash proceeds of approximately $300 million and a 29 percent equity stake in the combined company, which has an enterprise value of approximately $2.5 billion.
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Avg. Broker Rec.
 
|
Buy (2.67 out of 4) 10th percentile
(ranked lower than approx. 90% of all stocks covered)
Analysts' Target Price: HSC Stock Forecast Based on Zacks ABR data; powered by Xignite |
