News | August 18, 2014

Cascade Drilling L.P. Completes Acquisition Of ZEBRA Environmental Corporation

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This acquisition strengthens Cascade's presence in the Northeast direct push, in-situ remediation and small auger market

Cascade Drilling, L.P. is pleased to announce the acquisition of ZEBRA Environmental Corporation. This acquisition strengthens Cascade's presence in the Northeast direct push, in-situ remediation and small auger market. ZEBRA Environmental Corporation will now be called ZEBRA Technical Services, LLC and will largely retain their current corporate identity as a subsidiary of Cascade Drilling, LP.

ZEBRA is primarily a direct push technology company (DPT) that operates the GeoProbe 8040DT, 7822DT, 6620DT 54DT and several smaller, portable direct push rigs. ZEBRA differentiates itself from the rest of the DPT market by specializing in a wide variety of direct sensing tools and in-situ remediation services. The combination of high resolution site characterization tools and specialized injection services will complement Cascade's existing strengths in the environmental drilling market.

The leading edge Direct Sensing tools ZEBRA offers include the UVOST system (Ultra-Violet Optical Screening Tool by Dakota Technologies) and the full range of GeoProbe's direct imaging tools, including the MIP, HPT, MiHPT, EC, and CPT systems.

ZEBRA has 6 office locations stretching from Albany, New York to Florida with 50 employees and more than 20 GeoProbe rigs.

"The acquisition of ZEBRA increases Cascade Drilling's ability to provide, safe, technically advanced direct push and auger drilling services on the Eastern Seaboard. The two organizations have shared values of safety, client service and technical excellence," said Timothy Smith, CEO of Cascade. "Adding ZEBRA gives us the ability to better serve our clients on a National level. ZEBRA is known on the East Coast for its expertise in direct push drilling, in-situ remediation and for their forward looking technologies. In addition, ZEBRA is known and for its dedicated crews and operations managers."

"ZEBRA's team and technical capabilities enhance Cascade's position as the premier North American environmental and geotechnical drilling company," said Christopher Staudt, a Director with Emigrant Capital Corporation, Cascade's majority owner. "This acquisition reflects Cascade's ongoing strategy to identify and partner with the industry's leading companies".

The ZEBRA acquisition will bring Cascade's total rig count to 245 sonic, air rotary, mud rotary, auger, coring and probe rigs serving clients in all regions of North America. The combined company employs over 500 people in 28 offices Nationwide. Terms of the agreement were not disclosed.

About Cascade Drilling
Cascade Drilling is a leading national provider of environmental, geotechnical, and mining drilling services for water and soil assessment, monitoring, and remediation. Cascade's services include full sized track and truck mounted sonic, mini-sonic, air and mud rotary, reverse circulation, auger, rock coring, direct push drilling and vacuum hole clearing. Cascade drills environmental and geotechnical borings and installs all types of wells and instrumentation for site characterization studies, installation of remediation systems, geotechnical investigations and for construction site dewatering. It has also completed hundreds of in-situ injection remediation projects. Cascade Drilling's core beliefs are safety, customer service and quality. For more information, visit www.cascadedrilling.com.

About Emigrant Capital Corp.
Emigrant Capital Corporation is a private equity firm that provides flexible capital solutions to finance acquisitions, fund growth, create liquidity and meet the other financial needs of middle-market businesses and their owners. For more information, visit www.emigrantcapital.com.

SOURCE: Cascade Drilling, L.P.

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