Description
Due diligence reviews provide a vital tool to help companies assess the potential liabilities in mergers and acquisitions (M&As). Companies routinely address environmental liabilities but often process safety and risk management liabilities are not considered. Inadequate process safety and risk management programs result in a higher likelihood of catastrophic accidents subsequent to the purchase and require expensive post-purchase remedial work to achieve compliance with regulations and industry standards. This can leave the purchaser with a substantial unrecognized liability if not addressed prior to purchase.
Primatech's consultants assess compliance with process safety and risk management programs for a facility that is the subject of a merger or acquisition by employing audit protocols. We utilize Primatech's software package, AUDITWorks™, to conduct the review. Primatech's review focuses on the policies and procedures that make up the process safety and risk management programs being reviewed. We address each aspect of the programs and include the management systems that are used to implement them.
Why Due Diligence for Process Safety?
The identification of process safety and risk management liabilities has significant financial benefits including purchase price adjustments, the provision of representations and warranties, indemnification against risks, or agreements to defend in the event that unmitigated risks are realized.
Why Primatech?
Primatech has extensive experience in auditing and reviewing process safety and risk management programs. This helps ensure an efficient review. Primatech has extensive knowledge of regulatory requirements for process safety and risk management. This helps in identifying program deficiencies. Primatech has developed the software package, AUDITWorks™, which provides protocols and facilitates documentation of reviews. Primatech is internationally recognized for its work in process safety and risk management. This provides a stamp of authority for the reviews we conduct.
Services Offered
- Review of process safety and risk management programs for mergers and acquisitions.
We conduct an assessment and prepare a report identifying any deficiencies in the programs so that adjustments can be made in the contractual terms of the merger or acquisition to account for the deficiencies.
