Due Diligence and Asset Management
The Isosceles Group (Isosceles) provides Environmental Due Diligence Assessment and Consulting Services and has developed Facility Development Protocols which delineate the requirements for facility acquisition and development in 40 countries, including China, India and Mexico, and countries within the European Union (EU).
Isosceles staff has managed the environmental assessment of hundreds of commercial properties, including properties located overseas, to support acquisition, management, sale, and asset valuation. Our work is performed in compliance with the industry standards that are required to demonstrate All Appropriate Inquiry (AAI), as defined by the applicable local regulatory agencies (such as United States Environmental Protection Agency (USEPA).
Isosceles specializes in the documentation of environmental conditions and risk at large industrial properties with historical releases of oil and hazardous materials and complex compliance histories, to address the concerns of investors, support financing and the procurement of environmental insurance, and to reduce environmental liabilities.
Representative Isosceles Projects:
- Due Diligence of Former Sun Microsystems Inc. Property, Burlington and Bedford, MA. The Isosceles Group (Isosceles) (as SHD) conducted a Phase I ESA of a 158 acre property owned and developed by Sun Microsystems Inc. (Sun). The property was formerly owned, and /or occupied by manufacturing divisions of several major electronics firms, and extensive investigation and remedial actions were performed prior to development by Sun. As part of the Phase I ESA, The Isosceles Group independently evaluated the adequacy of previous response actions, and identified continuing obligations for soil, groundwater and surface water management at the property, and subsequently assisted the new owner of the property in the subdivision, sale of and permitting of undeveloped portions of the property.
- Due Diligence of Former Thomson Electronics Facility, Dunmore, PA. The Isosceles Group (Isosceles) (as SHD) evaluated the historical use, decommissioning, and rehabilitation of a manufacturing facility formerly utilized by RCA and Thompson Electronics. This 41 acre facility was used for the manufacturing of cathode ray tubes between the early 1960s and the 1990s/, which resulted in the presence of significant requirements for dust abatement, and environmental assessment and remedial action, prior to re-use. Isosceles assembled and reviewed hundreds of archived documents regarding the use and management of hazardous materials at the facility, evaluated site-specific risks to adjacent properties and land users; independently evaluated the adequacy of previous actions to meet regulatory requirements; and audited the performance of Phase I and II investigations by subcontractors retained by the prospective purchaser.
- Due Diligence of Former Department of Public Works (DPW) Facility, Reading MA. The Isosceles Group (Isosceles) (as SHD) was retained to evaluate the environmental conditions of a former municipal DPW facility that was developed for office use in the 1980s, and the impact of historical conditions on future redevelopment. Isosceles assembled and reviewed hundreds of documents that summarized former investigations and remedial actions, conducted additional Phase I and II Investigations to verify current conditions; performed a risk evaluation of conditions under current regulations; and documented and managed in-situ conditions during subdivision, permitting and redevelopment. Isosceles prepared documents used by prospective purchasers in the sale and financing of the subdivided parcels.
- Due Diligence of Former Caterpillar Manufacturing Facility, York, PA. The Isosceles Group e(Isosceles) (as SHD) valuated the conditions of a former Caterpillar facility where oils and other petroleum products, degreasing solvents, and metals such as cadmium, chromium, lead, zinc and Polychlorinated Biphenyls (PCBs) were released at the Property, and were remediated under the Pennsylvania (PA) Land Recycling and Environmental Remediation Standards Act (Act 2). Matters evaluated by Isosceles included the conditions of various closure agreements with the PA Departmetn of Environmental Protection, the status of on-going response actions, and potential effects of existing conditions on future redevelopment. Isosceles evaluated the requirements for maintaining liability protections under Act 2, soil management requirements under future use scenarios, compliance on an on-property water treatment facility, and the management of debris during rehabilitation of the facility. Isosceles assisted the new owner in the procurement of environmental insurance.
- Due Diligence of Hospital and Health Care Facilities, Washington DC, and Odessa, Texas. The Isosceles Group (Isosceles) (as SHD) performed Phase I ESA and Facility condition surveys at three hospitals and health care facilities. Isosceles's work included review of former environmental investigations, procurement of documentation regarding compliance with environmental regulations and policies from governmental agencies, and coordination of asbestos surveys. Isosceles identified requirements and prepared cost estimates for future compliance during the redevelopment and use of these facilities.
- Review of Environmental Conditions and Liabilities, Urban Redevelopment Site, Winooski, VT. The Isosceles Group (Isosceles) (as SHD) evaluated the historical use history, and subsurface data for multiple parcels of land in a former industrial area of Winooski, VT, and identified future regulatory requirements and uncertainties that could affect the acquisition and redevelopment of the property. Conditions of concern at the development site included petroleum contamination associated with the former use of USTs, mercury contamination in portions of an existing mill building, and the requirements for environmental insurance.
- Review of Environmental Conditions and Liabilities, Urban Redevelopment Site, Wyomissing, PA. The Isosceles Group (Isosceles) (as SHD) reviewed the historical use history, geologic setting, and subsurface soil and groundwater conditions developed by previous investigators at a Brownfield development site to establish the regulatory status of the Site under the applicable state regulations, the availability of liability protections under state regulations, and the identification of potentially significant costs associated with remedial action and waste abatement during redevelopment. Isosceles identified regulatory requirements that could affect prospective owners, investors and tenants, and provided recommendations for additional work and documentation to support the acquisition and sale of the Property. Conditions of concern at the Property included the presence of groundwater contamination, and Vapor Intrusion Condition (VIC), and outstanding requirements under PA regulations.
- Phase I and II Investigations and Redevelopment Support, Cambridge, MA. The Isosceles Group (Isosceles) (as SHD) conducted Phase I and II Investigations, of two contiguous industrial properties, to support of acquisition, financing, and redevelopment planning. Isosceles performed subsurface investigations at both properties to estimate costs associated with soil excavation and disposal during redevelopment. Soil at one of these properties are typical of urban fill in Cambridge, and required release notification, investigation, and the filing of a Response Action Outcome (RAO) with the Massachusetts Department of Environmental Protection (MA DEP).
- International Due Diligence. The Isosceles Group (Isosceles) has managed the completion of environmental due diligence, using relevant ASTM standards at facilities located overseas. This work has been performed by SHD staff and its consultants at multiple locations, including China, Dominican Republic, India, Israel, Japan, Korea, Mexico, Poland and Russia. These reviews have been designed to: identify the sources of potential or actual contamination; identify the possible and likely pathways of contaminant migration; and identify any environmental receptors and the potential degree of likely impairment from any identified or potential contamination. In addition, Isosceles has been tasked to assess the existing and proposed processes and operations, to determine if they are protective of human health and the environment and in compliance with applicable environmental law. This assessment typically included: identification of appropriate remedial alternatives and likely prevention initiatives and their approximate costs; a review and assessment of existing and potential workers' compensation issues; and the performance of an initial review and assessment of health and safety inherent risks pertaining to operations, processes, equipment, chemicals and materials used, physical condition of facility, etc., and the evaluation of the adequacy of existing systems to address them.
- International Regulatory Protocols - Addressing Due Diligence. The Isosceles Group (Isosceles) has also been retained by various multi-national corporations and organizations to develop protocols which delineate the requirements for permitting, development, and operation of manufacturing facilities worldwide. These protocols establish a formal procedure to ensure that the essential components of due diligence are incorporated into the acquisition divestiture, joint venture or lease. These protocols include provisions for EH&S and other functional line management accountability, responsibility and approvals for the various types and levels of transactions.