Daily News: February 27, 2015

GE Antares Agents Facility Supporting Snow Phipps Buy

GE Antares announced it is serving as administrative agent on a $66 million senior secured credit facility to support the acquisition of Cascade Drilling Environmental Services by Snow Phipps Group. GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.

“Cascade Drilling is a market leader with advanced solutions such as sonic drilling, and a strong management team,” said Doug Cannaliato, managing director of GE Antares. “We are excited about supporting this acquisition and look forward to supporting management and Snow Phipps as they execute on their growth vision.”

Founded in 1992 and headquartered in Woodinville, WA, Cascade Drilling began as a regional drilling company operating across three states in the Northwestern U.S. Now, with 30 offices nationwide, Cascade Drilling is a provider of critical and non-discretionary drilling solutions and related jobsite services in the North American Environmental and Infrastructure markets.