Due Diligence services for Retail Gas Station Chain Expansion
PM Environmental, Inc.’s client is a 550 unit retail gasoline station and convenience store operator with locations in Tennessee, Kentucky, Virginia, Georgia, Alabama, Mississippi, Louisiana, and Arkansas. The majority of their locations are in Tennessee and Alabama where PM is the Corrective Action Contractor (CAC).
As our client began a new image upgrade and expansion program, they have been marketing older locations and began purchasing locations for new ground up stores. As part of the expansion process, they have looked at several portfolios, and PM helped develop a Tiered Risk Matrix that weighted various risks and assigned a value of risk that could be used to evaluate the package as a whole. These risk values were assigned during file reviews of each location and uploaded into a single spreadsheet. The senior management staff of PM completed file reviews and uploaded data for interpretation within a ten day period to meet the time constraints of the purchase sell agreements due diligence period.
PM has provided Phase I Environmental Site Assessments (ESA), Phase II ESA, Ground Penetrating Radar and Tank Closure Services to meet the needs of the particular project.