CAMP HILL, Pa., Jan. 31, 2020 (GLOBE NEWSWIRE) -- Harsco Corporation (NYSE: HSC) announced today that it has completed the previously announced sale of its Houston-based IKG business to KPS Capital Partners, LP (“KPS”) for $85 million in cash and notes.

With the completion of this transaction, the Company has divested all three business that comprised its former Industrial segment for a total of approximately $745 million.

“We are pleased to complete the sale of IKG, which further advances our transformation into a global market-leading single-thesis environmental solutions company,” said Harsco Chairman and CEO Nick Grasberger. “The divestiture of our Industrial segment strengthens Harsco’s solid balance sheet, providing us with financial flexibility to pay down debt and focus on expanding our presence in higher growth, less cyclical areas.”

During the past seven months, Harsco has made significant progress on its transformation into a single-thesis environmental solutions company. The acquisition of Clean Earth, one of the leading specialty waste processing companies in the U.S., was completed on June 28, 2919. Clean Earth is now run as its own division of Harsco. Regarding to the divestiture of the Company’s former Industrial segment, the sale of Air X-Changers was completed on July 1, 2019; the sale of Patterson-Kelley was completed on November 12, 2019; and the sale of IKG completed today.

About Harsco Corporation

Harsco Corporation is a global market leader providing environmental solutions for industrial and specialty waste streams and innovative technologies for the rail sector. Based in Camp Hill, PA, the 11,000-employee company operates in more than 30 countries. Harsco’s common stock is a component of the S&P SmallCap 600 Index and the Russell 2000 Index. Additional information can be found at www.harsco.com.