Aircraft Fueling and Maintenance Company: Acquisition

A major aircraft fueling and maintenance company retained First Environment to perform a pre-purchase environmental assessment of 33 facilities throughout the continental United States and Alaska. To ensure that the critical expertise was available and that our client's time frame of 30 days was met, we fielded four assessment teams of experienced senior personnel with a project specific checklist.

The checklist focused on the use of hazardous materials; past disposal practices; aircraft and ground support vehicle maintenance activities; hangar construction with regard to pits, sumps, and drains; and the operation of 121 underground fuel storage tanks. Issues including regulatory compliance, tank removal, upgrades and remediation requirements were addressed. Of critical importance was the identification of past spills, leaks, and discharges and whether they resulted from negligent acts or practices. The purchaser used our analysis to negotiate a reserve to cover the potential remediation costs, as well as the development of a capital expenditure plan to upgrade operations. The transaction was successfully completed.

Mergers & Acquisitions
Environmental Due Diligence
Case Study