The deal to combine Brand Energy & Infrastructure Services Inc. with a division of Harsco Corp. (NYSE: HSC) has closed.

Kennesaw, Ga.-based Brand Energy, backed by private equity firm Clayton Dubilier & Rice, provides services to energy companies. The company’s services include coatings, insulation, fireproofing and construction. The company was sold to CD&R by PE firm First Reserve, headquartered in Greenwich, Conn.

Brand Energy was combined with Camp Hill, Pa.-based Harsco’s infrastructure division. The new company will provides industrial services to the energy and infrastructure sectors under the Brand energy & Infrastructure name.

Harsco owns 29 percent of the combined company, while CD&R owns a 50 percent stake.

The combination was announced in September. The closing was announced Nov. 26.

Financing for the deal was led by Morgan Stanley, Citigroup Global Markets Inc., Goldman Sachs Bank USA and UBS Investment bank, with HSBC Securities (USA) Inc., ING Capital LLC, Natixis Securities Americas LLC, RBS Securities Inc. SG Americas Securities LLC and SunTrust Robinson Humphrey Inc.

Morgan Stanley, Citi, Goldman Sachs & Co. (NYSE: GS) and UBS acted as CD&R’s financial advisers. Debevoise & Plimpton LLP was CD&R’s legal adviser. Robert W. Baird & Co. and Credit Suisse acted as Harsco’s financial advisers, while Weil Gotshal & Manges LLP provided legal advice.

M&A has been flowing from the oil and gas services sector, with recent deals by Riverstone Holdings LLC, which invested $200 million in Abaco Energy Technologies LLCin October, and First Reserve’s acquisition of TNT Crane & Rigging Inc. 

 

 

Infrastructure (M&A)