Intervale Capital Makes Second Exit from First Fund
August 15, 2012
Intervale Capital has sold its portfolio company Ulterra Drilling Technologies to ESCO for $325 million in cash. Ulterra manufactures polycrystalline diamond compact drill bits used in the construction of oil and gas wells. The company received an investment from Intervale in December 2007 and was backed by one of Intervale's predecessor entities, Cherington Capital, from May 2005 to December 2007.