Harsco Sells IKG Business To KPS Capital For $85 In Cash And Notes

Harsco Corporation (NYSE:HSC) announced today that it has sold its Houston-based IKG business to KPS Capital Partners, LP ("KPS") for $85 million in cash and notes, subject to post-closing

Benzinga · 01/10/2020 13:05

Harsco Corporation (NYSE:HSC) announced today that it has sold its Houston-based IKG business to KPS Capital Partners, LP ("KPS") for $85 million in cash and notes, subject to post-closing adjustments. Harsco expects to use the net cash proceeds from the transaction to reduce debt to further strengthen its balance sheet to pursue growth, while the $40 million note is expected to be paid over a number of years.