KPS Capital Partners to acquire IKG from Harsco for $85m.

KPS Capital Partners, a private equity firm, agreed to acquire IKG, a North American manufacturer of high-quality steel and aluminum bar grating, from Harsco, a provider of industrial services and engineered products, for $85m. Completion of the transaction is expected early in 2020 and is subject to customary closing conditions and approvals. "We thank Harsco for their constructive approach on this transaction and look forward to working with Chief Executive Officer Chad McClendon, and IKG's management team and employees to build on this great platform. Given IKG's demonstrated strengths, the addition of KPS's strategic, operational, and financial resources will create an ideal foundation for IKG's future success as an independent company. We intend to drive the Company's growth both organically and through strategic acquisitions," Ryan Harrison, KPS Mid-Cap Partner.