TRC

RiverStone Acquisition of ProServ

TRC produced a tailored and solutions-focused liabilities report to help RiverStone fully understand the operations and associated material EHS risks with the acquistion of ProServ.

Industries

Client

RiverStone

Project Location

UK and Worldwide

Project Challenges:

Identification and assessment of material environment, health and safety (EHS) risks associated with Proserv, a complex global business, comprising the manufacture, installation and servicing of critical offshore equipment, including blowout preventer and subsea production equipment and associated communication and control systems.

Robin Duggan, Managing Director at RiverStone in the UK, commented that “TRC understands our needs during a transaction very well; we appreciate their responsiveness, their ability to collaborate with the wider deal team and the quality of the output.”

TRC Solutions:

TRC undertook a review of a detailed data room, a call with ProServ management and liaised with RiverStone’s other advisors, including insurers, lawyers and commercial diligence team, to fully understand the operations and associated material EHS risks. These were communicated in a liabilities report that provided a business overview from an EHS perspective, identified material risks, remedial options, costs and likely triggers for action.

Client Benefits:

TRC produced a tailored liabilities report, which identified the material risks, but was solutions focused. TRC continued to support the deal team through to close, engaging with the RiverStone team, insurers and lending banks to ensure that all parties were comfortable with the level of EHS risk and how to best manage this risk once the transaction completed.

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Transaction Advisory Services

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