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GreenStar Recycling Portfolio Divestiture

Client:               Formerly GreenStar
Location:            Texas/Oklahoma/Michigan/Ohio/New Jersey/Pennsylvania, U.S.A.
Markets:            
  • Industrial
  • Commercial
  • Transportation

Challenges

Divestiture of 16 company facilities to a larger/national, third-party waste handler, which involved:

  • Expedited project schedule to complete full scope due diligence & compliance audit;
  • High level purchaser (corporate Fortune 500) work product review & acceptance required;
  • Highly reliable remediation & compliance cost estimates required as a requirement of closing;
  • Preparation & delivery of necessary compliance plans/documents to satisfy buyer;
  • High level of confidentiality required during all project phases.

Due Diligence assessments of recycling centers in six states

Hazardous material surveys

Solutions

Without the need for subcontracting or use of “hired labor”, TGE leveraged its skilled & credentialed crews to execute coincident Phase I ESAs; Compliance Audits; Asbestos Surveys; Phase II work scopes; on-site reviews for preparation of compliance plans & documents (e.g. Stormwater Pollution Prevention Plans – SWP3s, and Asbestos Operations & Maintenance Plans) on a single mobilization.  TGE exercised complete discretion and confidentiality during work and coordinated closely with the seller, buyer, and associated counsel. Due to the compressed time frame for completing the transaction, and the need for comprehensive cost estimates, TGE proposed its (well-received) portfolio due diligence findings and cost estimate tool (per location) to be incorporated into key closing documents.

Outcome

TGE’s work products were not only on time and on budget, but unilaterally accepted by the buyer’s representatives without exception, which allowed an “as is” outcome for portfolio acquisition.

Industrial Hygiene surveys and Environmental Compliance reviews

Bottom2

Environmental compliance reviews

Bottom5

Testing and mitigation of indoor air quality and health hazards