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Subsequent Events
3 Months Ended
Mar. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events

On May 9, 2019 the Company announced two separate strategic transactions that accelerate the transformation of the Company’s portfolio of businesses into a leading provider of environmental solutions and aligns with the Company’s strategy to decrease the complexity of the Company’s business portfolio by focusing on less cyclical and higher-growth businesses.
The Company has entered into a definitive agreement to acquire CEHI Acquisition Corporation and Subsidiaries (“Clean Earth”), a leader in processing special waste and hazardous and non-hazardous waste, from Compass Diversified Holdings for approximately $625 million in cash, subject to post-closing adjustments. The transaction has been approved by the Company's Board of Directors ("Board") and is expected to close during the next few months, subject to customary closing conditions, including receipt of certain regulatory approvals. There are no material financial or other contingencies to close the transaction.
In addition, the Company has entered into a definitive agreement to sell the Harsco Industrial Air-X-Changers business to Chart Industries, Inc. for $592 million in cash, subject to post-closing adjustments. The transaction has been approved by the Company's Board and is expected to close during the next few months, subject to customary closing conditions, including receipt of certain regulatory approvals. There are no material financial or other contingencies to close the transaction.
The Company has received bank financing commitments for the purchase of Clean Earth and plans to pursue long-term, unsecured debt financing as well as the upsize and extension of the Company's revolving credit facility. The proceeds from the sale of the Harsco Industrial Air-X-Changers business will be used to reduce borrowings under the existing Senior Secured Credit Facility and support further investment in the core environmental solutions business and the Harsco Rail Segment.