ComplianceMap Facilitates Portfolio Company Sale
As part of a private equity client’s sale process RPS performed environmental due diligence on a portfolio of aerospace parts manufacturers. To support the due diligence process RPS managed each of the company’s locations through a custom-built, on-line ComplianceMap solution. To help demonstrate environmental, health, and safety (EHS) compliance, RPS identified all the compliance obligations and deadlines at each facility and built those tasks into the system, in addition to all of the necessary or associated documentation. RPS trained company management and plant-level users on system operation to enable daily management and long-term EHS compliance. RPS’ ComplianceMap system expedited buyer due diligence during the sale process and has been highly successful in the management of EHS compliance obligations since that time.
Key Details
Project name
ComplianceMap for EHS compliance management
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Client
Private Equity firm with a large portfolio of aerospace part manufacturers
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Location
12 site locations across the United States. System was built online in ComplianceMap.
Services Provided
Built and implemented ComplianceMap system for client. Trained and worked with users to understand and correctly use platform. Â
Challenge
During the early stages of due diligence, it was discovered that the companies did not have a centralized compliance management system to host EHS related plans, permits and training documentation or an easily accessible tracking system. Absence of such a system created difficulties in reporting the status of compliance to plant level and corporate management as well as other stakeholders, and efficiently managing compliance obligations. The client needed an easily-operated and practical way to report and track improvements or corrective actions across a portfolio of different companies, and monitor ongoing performance over the life of the deal.Â
Solution
RPS visited all the locations, met with on-site staff, and understood individual operations, enabling the consultants to compile all EHS requirements across the portfolio. RPS consultants then built these compliance obligations into a company-specific online compliance management platform. This allowed client users to access their site-specific documents, permits, forms, and instructions on how to manage their EHS requirements. It also allowed corporate management and other stakeholders to track and monitor compliance performance across the portfolio.
Result
RPS’ ComplianceMap provided a way for the company to efficiently track its compliance performance over the life of the deal for a relatively low cost. Currently, the company is fully compliant with all relevant requirements, and has no overdue or incomplete tasks. It has also provided a mechanism for the company to prove compliance to future auditors, regulatory inspectors, or other consultants, since a complete record and all documentation is stored within the system. The company is not at risk for any monetary violation penalties and will likely see increased valuations due to a clean EHS record.
Testimonial
"Our EHS consultant, RPS, has successfully implemented its ComplianceMap EHS Management Software system across our multi-state manufacturing facilities. In addition to simplifying EHS due diligence during our sale to KKR this system has allowed us to streamline our organization and still have confidence that our EHS obligations are being met. The on-line system provides senior management with visibility into the status of individual regulatory requirements at any time, avoiding surprises and allowing us the opportunity to apply additional resources as necessary.
In summary, ComplianceMap provides confidence that our EHS regulatory risk is being efficiently managed, allowing us to focus our core resources on meeting the needs of our clients."
Justin Tucker, CFO
Novaria Group
Project Statistics
months to build and launch system
locations
users
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