Enviri Corporation Announces Exploration of Strategic Alternatives to Maximize Shareholder Valu
Enviri Corporation (NYSE: NVRI), a global, market-leading provider of environmental solutions for industrial and specialty waste streams, today announced that its Board of Directors has authorized management to conduct a formal process to evaluate and explore strategic alternatives aimed at unlocking shareholder value.
The Company is evaluating a wide range of value creation alternatives including but not limited to a tax-efficient sale or separation of the Clean Earth business, along with the continued execution of the Company’s business plan.
“As we seek to close the persistent gap between Enviri’s public market valuation and the company’s sum-of-the-parts value, the Board has authorized a comprehensive review of strategic alternatives,” said Enviri Chairman and CEO Nick Grasberger. “We are approaching this process with clarity, discipline, and an open mind, assisted by our outside advisors and guided by our commitment to maximize shareholder value. This is a pivotal moment for Enviri, one that allows us to evaluate all paths forward while continuing to deliver innovative, safe, and sustainable solutions to our customers’ complex environmental and infrastructure needs worldwide.”
There can be no assurances regarding any specific outcome or transaction resulting from this review. The Company has not established a timetable for completion of the review and does not intend to provide additional updates unless and until it determines further disclosure is appropriate or necessary.
About Enviri
Enviri is transforming the world to green, as a trusted global leader in providing a broad range of environmental services and related innovative solutions. The company serves a diverse customer base by offering critical recycle and reuse solutions for their waste streams, enabling customers to address their most complex environmental challenges and to achieve their sustainability goals. Enviri is based in Philadelphia, Pennsylvania and operates in more than 150 locations in over 30 countries. Additional information can be found at www.enviri.com.