Harsco To Buy Stericycle Environmental Solutions For $462.5 Mln

(RTTNews) - Harsco Corp. (HSC) has agreed to acquire the Stericycle Environmental Solutions business, a hazardous waste transportation and processing solutions provider, from Stericycle, Inc. (SRCL). The deal includes Stericycle's Domestic Environmental Solutions business including Manufacturing and Industrial Services and the retail portion of Hazardous Waste Services.

"The sale of the Domestic Environmental Solutions business demonstrates important progress in our transformation as we improve margin percentages, reduce debt, enhance our balance sheet flexibility, and drive long-term shareholder value," said Cindy Miller, CEO of Stericycle.

Harsco Corp. expects Stericycle Environmental Solutions business to be modestly accretive to the company's cash earnings per share within the first (partial) year of ownership. In the first full year after close, ESOL is anticipated to contribute positively to free cash flow and provide meaningful earnings per share accretion.