Enviri Announces Sale Of Reed Minerals To Speyside Equity For $45M In Cash, Has Now Surpassed Its 2024 Asset Sale Goal Of $50M-$75M Of Proceeds With This Transaction

Enviri Corporation (NYSE:NVRI) announced today that it has sold its Reed Minerals business to Speyside Equity for $45 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 firm with $1.6 billion under management. It invests in industrial and manufacturing companies and has successfully invested in markets relevant to Reed Minerals in the past.