Private equity firm Clayton Dubilier & Rice is buying Brand Energy & Infrastructure Services Inc., and combining it into a newly formed joint venture with Harsco Corp.’s (NYSE: HSC) infrastructure division.

Harsco, which is selling the infrastructure division into the new joint venture, will receive $300 million and a 29 percent equity stake in the combined company. Camp Hill, Pa.-based Harsco is selling the company in order to focus on its metals and minerals segment. Harsco focuses on provided services to customer’s steel mills, railroads, industrial plants and natural gas fields.

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