GE finances acquisition of oil and gas services provider

Source:GE

GE Antares announced it is serving as administrative agent to support the acquisition of Uintah Engineering & Land Surveying by Norwest Equity Partners.

GE Antares, a unit of GE Capital, announced today it 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.”

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