Harsco, CD&R Closes Deal To Sell Infrastructure Business Into JV

(RTTNews) - Brand Energy & Infrastructure Services, Clayton, Dubilier & Rice or CD&R and Harsco Corp. (HSC) announced the completion of transactions resulting in the combination of Harsco's Infrastructure business with Brand. CD&R funds will hold a majority position in the new company, which will operate under the Brand Energy & Infrastructure Services name and generate approximately $3 billion in pro forma revenues.

This transaction combines two leading specialized services businesses to the global energy, industrial and infrastructure markets, creating a market leader with longstanding customer relationships and well-recognized brands.

The company noted that Brand offers a differentiated value proposition for customers' recurring maintenance and capital expansion needs, providing a single-source solution for many of their specialized industrial and infrastructure services requirements on a world-wide basis.

The newBrand's global footprint, broad service offerings and rigorous operating processes uniquely position the company to support customers' required facility maintenance and turnaround needs, as well as capital-driven upgrade and expansion plans.

The Board of Directors will include representatives from CD&R, Brand and Harsco Corporation and CD&R Partner John Krenicki, Jr., former Vice Chairman of General Electric and President and CEO of GE Energy, will serve as Lead Director. Brand will retain its existing headquarters in Kennesaw, Georgia.