Enviri Corporation announces sale of Reed Minerals
NVRIenviri(NVRI) GlobeNewswire News Room·2024-08-30 04:15

PHILADELPHIA, Aug. 29, 2024 (GLOBE NEWSWIRE) -- Enviri Corporation (NYSE: NVRI) announced today that it has sold its Reed Minerals business to Speyside Equity for 45millionincash,subjecttopost−closingadjustments.Enviriexpectstousethenetcashproceedsfromthetransactiontoreducedebtandfurtherstrengthenitsbalancesheet.Importantly,theCompanyhasnowsurpassedits2024assetsalegoalof45 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 f ...