Latest Cascade Environmental Services News
Feb 24, 2015
Snow Phipps Invests in Cascade Environmental Services 2/23/15 Snow Phipps Group, LLC announced that it has invested in Cascade Environmental Services, LLC and acquired a majority of the Company and its subsidiaries from Emigrant Capital Corp. Cascade is a leading provider of environmental and geotechnical services including subsurface investigation, high resolution site characterization and remediation. The terms of the acquisition were not disclosed. “Cascade is well positioned as a national leader in the fragmented sector of environmental jobsite services. Snow Phipps is excited to partner with the Cascade team and help drive the next chapter of growth,” said Sean Epps, Partner at Snow Phipps. CEO Tim Smith and the existing Cascade management team will continue to lead the Company following the transaction. Snow Phipps Operating Partner Paul Chellgren and new Operating Partner John Kenny will join Cascade as the non-executive co-chairmen of the Board of Directors. “Cascade is very excited to partner with the Snow Phipps team,” said Mr. Smith. “They fully understand our strategic vision, and we look forward to leveraging the combined experience and resources of Paul Chellgren and John Kenny to execute on our mission. We are confident that Snow Phipps has provided an ideal structure to accelerate growth, and we look forward to helping our customers by offering a growing portfolio of technological solutions for environmental and geotechnical services at jobsites across the country.” Mr. Chellgren is a Snow Phipps Operating Partner focused on industrial processes and industrial services. Mr. Chellgren has previously served as Chairman of three former Snow Phipps portfolio companies, ArrMaz Custom Chemicals, Inc., Excel Mining Systems, LLC and FiberVisions Corporation. Mr. Chellgren was formerly the Chairman and CEO of Ashland Inc. (NYSE: ASH), a global diversified energy and chemical company. Mr. Kenny is a new Snow Phipps Operating Partner focused on industrial services. Cascade marks his first Snow Phipps portfolio company. Mr. Kenny was formerly the Chief Financial Officer of Iron Mountain Inc. (NYSE: IRM), a storage and information management company. Houlihan Lokey served as financial advisor to Cascade, and Dechert LLP served as its legal advisor. Weil, Gotshal & Manges LLP served as legal counsel to Snow Phipps. About Cascade Environmental Services Cascade is the leading provider of environmental and geotechnical 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. Cascade also specializes in high resolution site characterization methods and in-situ remediation of subsurface contaminants. Cascade supports geotechnical design and geo-construction projects such as instrumentation installation, tunnel alignment borings, construction dewatering, and dam evaluations. Cascade’s core beliefs are safety, customer service, and quality. For more information on Cascade, please visit www.cascadedrilling.com. About Snow Phipps Group 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. To learn more about Snow Phipps, visit www.snowphipps.com. About Emigrant Capital Corp. Emigrant Capital Corp. is a private equity firm that provides flexible capital solutions for the purpose of financing acquisitions, funding growth, creating liquidity and meeting the other financial needs of middle-market businesses and their owners. For more information on Emigrant Capital Corp., please visit www.emigrantcapital.com. Stories you Need to Know Stories you Need to Know It's on us. Share your news here.