Acquisition Financing For Harsco Corporation’s Purchase of Clean Earth

Acquisition Financing For Harsco Corporation’s Purchase of Clean Earth

  

Fried Frank acted as counsel to Harsco Corporation in connection with its acquisition financing for its purchase of CEHI Acquisition Corporation (Clean Earth) from Compass Group Diversified Holding LLC for approximately US$625 million in cash. The financing included a US$500 million senior unsecured bridge commitment from Goldman Sachs Bank USA and Citigroup Global Markets Inc. and certain other lenders, that was replaced with a US$500 million issuance of 5.75% senior unsecured notes due 2027, and the amendment to its existing credit agreement to, among other things, increase the revolving credit facility capacity from US$500 million to US$700 million, extend the maturity, and reduce interest rates.
 
Harsco Corporation is a global market leader providing environmental solutions for industrial waste streams and innovative technologies for the rail and energy sectors. Clean Earth is a leader in processing and beneficially reusing specialty waste.
 
The Fried Frank team was led by corporate partners Daniel J. Bursky, Andrew B. Barkan, Joshua Thomas Coleman, and Stewart A. Kagan and included corporate partner Michael T. Gershberg; executive compensation & ERISA partner Donald P. Carleen; intellectual property and technology partner Amir R. Ghavi; tax partner Joseph E. Fox; corporate special counsel Adam J. Ross; corporate associates Jason D. Listhaus, Michael K. Piacentini, Matthew E. Sadofsky, David G. Sharon, Idan Shkaltz, and Charles Stern; environmental associate Mary Beth Phipps; executive compensation & ERISA associate Michelle L. Roter; intellectual property and technology associate Daniel E. Stern; tax associates Ryan L. Conley and Karen Li.

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