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

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 leading provider of critical and non-discretionary drilling solutions and related jobsite services in the North American Environmental and Infrastructure (E&I) markets.

“We have a great relationship with the team at GE Antares. Working with them means certainty of execution combined with capital markets and industry expertise,” said Sean Epps, partner at Snow Phipps. “ We look forward to continuing our financing relationship with GE Antares.”

“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.”

Cascade Drilling Environmental Services LLC. is a leading provider of environmental, geotechnical, and mining drilling services in the United States. Cascade's services include track and truck-mounted sonic, air and mud rotary, auger, wireline coring, and direct push drilling.

Snow Phipps is a private equity firm focused on middle-market control investments. With $1.5 billion of assets currently under management, Snow Phipps targets platform companies with enterprise values ranging from $100 million to $500 million. The firm utilizes an operating partner model to invest across select industries and seek value creation through an operationally focused strategy.

With offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco, GE Antares is the leading middle market lender, offering a “one-stop” source for GE’s lending and other services offered to middle market private equity sponsors.