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New Enviri Launches as Standalone Public Company; Sale of Clean Earth Completed

  • New Enviri, now renamed Enviri Corporation (NYSE: NVRI), completed its spin-off as a standalone publicly traded company on June 1, 2026.
  • Russell Hochman serves as President & CEO of New Enviri.
  • The company operates through two segments: Harsco Environmental, focused on industrial waste solutions, & Harsco Rail, providing equipment & technology.
  • Regular Way trading for New Enviri stock begins June 2, 2026.
  • Enviri shareholders receive one share of New Enviri common stock for every three shares of Enviri stock, plus $15.00 per share in cash following the Clean Earth sale to Veolia.
  • Annualized 2026 pro forma revenues are expected at approximately $1.2 billion with Adjusted EBITDA of ~$140 million.
  • The company maintains a conservative capital structure with a Net Debt to Adjusted EBITDA ratio of 2.0x & an undrawn revolving credit facility.
  • Harsco Environmental plans to leverage steel market recovery & cost reduction initiatives, while Harsco Rail executes a turnaround plan to de-risk legacy contracts.
  • Pro forma operating income for the twelve months ending December 31, 2026, is projected at $1 million, with Harsco Environmental contributing $59 million & Harsco Rail showing a loss of $29 million.
  • BofA Securities & Jefferies LLC served as financial advisors, with Fried, Frank, Harris, Shriver & Jacobson LLP acting as legal counsel.