Hyduke announces new CEO

NISKU, AB, May 2, 2014 /CNW/ - Hyduke Energy Services Inc. (HYD - TSX), announced that Mr. Patrick Ross has accepted the role of President and CEO of the organization effective immediately. Mr. Ross is a private equity investor with a history of successfully restructuring manufacturing and construction service related companies. He has been the CEO of two TSX listed companies - Steeplejack (SID) and Wittke (WKE). Currently he is Board Chair and shareholder in privately owned Brock Canada, a major scaffolding, insulation and fireproofing company. Pat is also an Affiliate Partner at Lindsay Goldberg LLC, with $10B in closed funds, specializing in portfolio companies requiring $100M to $500M in equity. In 2010 he was the Provincial Court appointed CRA (Chief Restructuring Advisor) for Cow Harbor Construction. Prior to that he was a board member, CEO and shareholder in manufacturing and construction service related companies and a principal partner in Polar Capital, a private equity firm focusing on value growth and turnaround situations. Mr. Ross has served as an independent member of the Hyduke board since April of 2013 and it is expected he will remain as a director.

Hyduke board Chair John Pinsent noted, "We are very excited to have Mr. Ross step into a full time role within our company. His work as the Chair of our transition Management Committee has started us on the path towards being a leaner, stronger and more profitable Company. As our President and CEO, we fully expect to accelerate those activities."  

Hyduke would like to thank Mr. Derek Petrie for his services as Interim Chief Operating Officer and wishes him best of luck as he leaves the organization to pursue other endeavours. 

About Hyduke

Hyduke is an integrated oilfield services company with over thirty-five years experience in the manufacture, repair and distribution of oilfield equipment and supplies in Canada and worldwide. Hyduke specializes in providing customized, integrated solutions to the drilling and well service industries including:

• Turn-Key Equipment - drilling rig, work-over rig and service rig packages including in-house design, engineering and drafting, major component procurement and overall project management;
• Life Cycle Management - inspection, certification, service, repair and supply services throughout the operating life of the drilling, work-over or well service rig; and
• Single Source Supply - providing new capital equipment, repair and maintenance on existing capital equipment and supply of operating consumables.

Hyduke is headquartered in Nisku, Alberta, Canada and has facilities in Edmonton, Calgary, Nisku, Leduc, Red Deer and Lloydminster, Alberta.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.

SOURCE Hyduke Energy Services Inc.