Cascade Completes Acquisition of TerraTherm, Inc.

Woodinville, WA (MMD Newswire) August 25, 2015 — Cascade Environmental Holdings, LLC, through its subsidiary Cascade Drilling, L.P. (Cascade), is pleased to announce the acquisition of TerraTherm, Inc. (TerraTherm). With this acquisition, Cascade continues to provide the most advanced sustainable remediation solutions to meet the demands of the most complex in-situ remediation projects for our clients.

TerraTherm is a worldwide leader in the development and implementation of in-situ and on-site thermal remediation of toxic contaminants. TerraTherm designs, builds and operates projects from concept to closure, using Thermal Conduction Heating (TCH), Steam Enhanced Extraction (SEE), Electrical Resistance Heating (ERH), and combinations of the technologies above. With offices in Massachusetts and California, and partnerships with leading providers abroad, they offer services worldwide.

“As part of Cascade, our company will have greater depth of resources”, said John Bierschenk, President of TerraTherm. “This will enable us to deliver thermal remediation technologies more broadly and launch organizational and technological advancements to better serve our clients”.

“The acquisition of TerraTherm enhances Cascade’s technical service capabilities by adding to our robust technology toolbox for cost effective and results driven source zone and plume remediation,” said Timothy Smith, CEO of Cascade. “Thermal remediation is often used as a combined remedy with our industry leading injection and high resolution site characterization technologies to achieve closure of complex chlorinated solvent, creosote/coal tar and petroleum hydrocarbon sites. Our combined team of tenured professionals offers clients unprecedented access to innovative, solutions-driven remedial design and turnkey implementation,” said Smith. “This acquisition reflects Cascade’s ongoing strategy to identify and partner with the industry’s leading companies.”

The combined company employs over 700 people in 36 offices nationwide. Terms of the agreement were not disclosed.

Houlihan Lokey acted as exclusive financial advisor to TerraTherm in connection with the transaction.

Burns and Levinson LLP acted as counsel for TerraTherm.

About Cascade Drilling

Cascade Drilling, L.P. is the leading provider of environmental and infrastructure drilling, in-situ remediation applications, and direct sensing technologies. Our collaborative approach, high quality service, reliable crews, and leading safety program make Cascade the first choice in environmental services. Ranked a Top 200 ENR Environmental Services firm, Cascade is the only single-source, nationwide contractor with expert technical capabilities and fleet licensed to work in all 50 United States. For more information on Cascade, please visit www.cascadedrilling.com.

About Snow Phipps

Snow Phipps is a private equity firm focused on small to mid-market control investments. With $1.5 billion of assets under management, Snow Phipps targets companies primarily located in North America with enterprise values ranging from $100 million to $500 million that require equity investments ranging between $40 million and $100 million. The firm utilizes an Operating Partner strategy seeking to create long-term capital appreciation. To learn more about Snow Phipps, visit www.snowphipps.com.

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Contact Cascade Drilling, L.P. Todd Marti Vice President [email protected] (760) 224-3189