Multi-State Property Assessment
The nationwide company is a manufacturer of wooden pallets used to store and transport a number of products worldwide. Along with their sister company, a wood-preservative facility and products producer, they operate facilities throughout the southeastern United States, the Carolinas, Maine, Wisconsin, and Indiana. Operations include all facets of pallet production and wood preservation from the processing of raw timber, to wood preservation, to the custom manufacturing of wooden pallets designed to meet the needs of their clients. Due in large part to the success of their business model and product demand, they have significantly expanded their operation throughout the last decade. As a result, they have acquired a number of additional properties and assets in recent years which are located throughout the United States.
Prior to acquisition, W&M has been contracted to conduct a number of Phase I Environmental Site Assessments (ESAs) located throughout the U.S. Not only does this require knowledge of both federal and multi-state environmental regulation, the stringent needs of the company’s financial lender, which exceed current ASTM standards and include evaluation of wildlife, wetlands, mold, asbestos, radon, and compliance needs, must be met prior to approval of each transaction. In many instances, this requires physical investigations to assess the financial risks of the acquired, and/or leased, asset. W&M has accomplished this task at a number of locations through investigation of soil, groundwater, and soil-vapor conducted as part of Phase II ESAs. Physical investigation of properties located throughout the U.S. requires a working knowledge of state-specific regulation and property assessment. W&M has familiarity with, and professionals licensed to practice in, multiple states.
In some cases, some assets cannot be fully investigated prior to acquisition. In these cases, W&M has provided Business Risk Analyses which include desktop review of environmental incidents, evaluation of probable environmental risks, and cost estimation of best- and worst-case scenario environmental issues associated with asset acquisition, all completed without the need to physically observe the property.
W&M continues to provide the breadth of knowledge and services required to meet the needs of the pallet manufacturer and their lender, in some cases on very short notice. W&M provides not only the scientific know-how to adequately assess environmental impacts, but also the ability to translate such issues into a business and financial risk assessment.