Company’s Expansion Assisted by Firm’s Environmental, Legal Reviews
A nationwide marketer and distributor of propane and other fuels sought to acquire the retail assets of another national fuel chain. The acquisition, valued at $1.8 billion, included operations in 33 states and the acquisition of 800 facilities involving fee ownership or leased interests.
Our environmental team worked with the client and its consultants on environmental due diligence, including identifying and managing potential risks, reviewing hundreds of leases for environmental indemnification and other terms. That work eliminated many potential issues which could have affected the business after the purchase.
With the purchase, the client became the third largest retail marketer of propane and effectively doubled the size of the company, expanding into 11 more states. We continue to work with the client on the remaining post-closing issues.
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