Due Diligence 

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Due diligence investigation is a critical part of any business acquisition.  Our team has performed numerous due diligence investigations for large environmental firms.  These investigations are crucial for the perspective buyer to identify both current and past environmental issues or concerns that may need  to be addressed and negotiated prior to the actual closing.  These investigative tools also assist in providing a smooth transition after the transaction is completed.  Accordingly, companies are able to avoid unforeseen expenditures related to past business practices.

2007

2006

 Littlejohn and Clean Earth

Clean Earth acquires Soil Technology

Over the course of the past five years, CPS has acted as the primary due diligence investigation firm for environmental permitting.  Although these transactions were not consummated, CPS conducted proper due diligence and assisted with preparing report summaries to the Board of Directors.  The transactions reviewed over this period includes:
 
  • A New Jersey based recycling facility; Phase I Environmental Site Assessment
  • A New Jersey based firm operating solid waste transfer and recycling facilities; Phase I Environmental Site Assessment
  • A Maryland based firm operating multiple recycling facilities and a C&D landfill operation; Phase I and II Environmental Site Assessments
  • A New York based firm operating multiple recycling sites on the east coast; Phase I and II Environmental Site Assessments and
  • A Philadelphia based firm operating a recycling facility.  Phase I and II Environmental Site Assessments (located in City of Philadelphia)
 
CPS conducted standard Phase I and Phase II audits of the operating entities as part of the due diligence conducted at these sites.
  
Clean Earth, Inc. purchased the assets of Soil Technology, Inc. (STI) which operated a petroleum contaminated soil treatment facility located in Southeastern Pennsylvania.  The company was previously shutdown due to enforcement issues, so the asset purchase was completed to limit liability.
 
  • Pre-Purchase Environmental Due Diligence – CPS worked with Clean Earth acquisition team to perform due diligence review of the STI facility and operating permits.  CPS performed initial Phase I Environmental Site Audit and assisted with the review and evaluation of capital assets.
  • Ownership change and operating permit transfers – CPS completed all required permit transfers and ownership changes, including acquiring local approvals for fire, zoning and certificates of occupancy.  Since the acquisition was an asset purchase, the solid waste permits were revoked and reissued to Clean Earth.  CPS secured required approvals to re-activate operating permits and effect simultaneous modifications to upgrade the facility’s operating plant.