Project Flamingo: Transaction Support for the Acquisition of Utilita Bowl

Our client, the GMR Group, a global leader in airports, energy, and urban infrastructure, was pursuing a £multi-million acquisition of the Utilita Bowl in Southampton. The deal was critical to enabling future investment and injecting cash into the business, which had been negatively impacted by COVID. 

To ensure a successful transaction and mitigate potential risks, GMR needed a comprehensive environmental, health, and safety (EHS) due diligence assessment. The site, an 80-hectare property incorporating a cricket ground, hotel, golf course, and development land, presented a variety of complex factors that needed to be evaluated. These included historical site use, potential for land contamination, flood risk, and overall EHS compliance. 

Antea Group UK was engaged to provide transaction support. We conducted a detailed EHS assessment of the Utilita Bowl site. Our scope of work included a thorough review of the following areas: 

• Energy and Water Use: Analysing existing consumption patterns. 
• Waste Management: Reviewing current waste disposal and management practices. 
• Hazardous Materials: Assessing the storage and use of any hazardous materials on-site. 
• Drainage and Wastewater: Evaluating the site's drainage systems and wastewater management. 
• Health & Safety: Reviewing the H&S culture, compliance, and fire risk. 
• Environmental Risks: Specifically, we assessed the risk of land contamination and flood risk, which were identified as key sensitivities of the site. 

This comprehensive approach provided GMR with a clear understanding of the site's environmental and safety profile, enabling them to make an informed decision and proceed with the transaction. 

Antea Group's due diligence provided the GMR Group with the critical information needed to successfully complete the acquisition of Utilita Bowl. The detailed assessment helped the client understand and manage the statutory and environmental risks associated with the complex site. 

Looking ahead, our work has laid the foundation for further collaboration. The future plans for Utilita Bowl include a focus on sustainability, with a goal of achieving "Net Zero by 2030." This includes the planned installation of over 1,000 solar panels, which are projected to save 80 tonnes of carbon per year and a six-figure sum in electricity costs.