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GE Antares Finances Norwest Equity Partners’ Acquisition of UELS

September 12, 2014, 07:46 AM
Filed Under: Energy Services

GE Antares, a unit of GE Capital, is serving as administrative agent on a senior secured credit facility to support the acquisition of Uintah Engineering & Land Surveying by Norwest Equity Partners. GE Capital Markets served as joint lead arranger and joint bookrunner on this facility.

Headquartered in Vernal, UT, Uintah Engineering & Land Surveying (UELS) is a provider of surveying, drafting, and engineering services for the American on-shore oil & gas industry. UELS serves eight O&G basins across 12 western states with offices in the Rocky Mountain, Great Plains, Southwest and Texas regions.

“Norwest Equity Partners has a long and successful relationship with GE Antares. Their certainty of execution and ability to move quickly through every stage of the acquisition process makes them an excellent financing partner,” said Tim Kuehl, Partner at Norwest Equity Partners.

“We’re excited to be financing another successful acquisition by NEP,” said Dave Swanson, managing director of GE Antares. “In partnership with management, NEP will be a great asset to UELS as they continue to grow in the oil & gas industry.”

Founded in 1964, Uintah Engineering & Land Surveying (UELS) has grown into the Intermountain West's largest provider of land surveying and civil engineering services for the oil and gas industries. With a staff of 200 employees, UELS specializes in the layout and design of well locations, roads, pipelines, evaporation ponds, compressor sites and all related facilities.

Norwest Equity Partners (NEP) is a leading middle market investment firm focused on partnering with business owners and building their companies into industry leaders. With a reputation for quality investments and exceptional financial returns since 1961, NEP has raised nearly $5 billion of capital through a series of equity and mezzanine funds. Offering creative and flexible transaction solutions, NEP seeks $30-$150 million equity investment opportunities for growing and profitable companies within the agriculture, applied technology, business services, consumer products and services, distribution, diversified industrials, and healthcare sectors. NEP is based in Minneapolis.

GE Antares is a unit of GE Capital. With offices in Atlanta, Chicago, Los Angeles, New York, and San Francisco, GE Antares is a leading middle market lender, offering a “one-stop” source for GE’s lending and other services offered to middle market private equity sponsors. GE Antares was recognized by Private Debt Investor and Private Equity International as 2013 Lender of the Year, North America and Mid-Cap Lender of the Year, North America, respectively.

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