Vertex Leadership Team and Corporate Outlook
Management Experience
Prior to founding the Company, Vertex's leadership team was responsible for growing Flint Energy Services, a private oilfield services
company with $60 million in revenue, to a public corporation with over 7,500 employees, 49 North American locations and $1 billion in
revenues.
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The Flint Energy Services platform began in 1998 with the roll up of HMW
Constructors founded by Brian Butlin.
It continued to grow through major acquisitions until its IPO in 2001.
Flint Energy Services Ltd. - Financial Highlights
CAD $ millions (except share price)
1998 IPO1 2001
2002
2003 2004 2005
Revenue
EBITDA
60
637
697
651
744 1,031
8
83
76
68
70
115
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Brian retired in January 2005 while Terry departed in May 2005 after
acquiring the first businesses that are now Vertex.
Total assets
Closing share price
12
577
556
554
630
735
12.00
18.75 20.50 21.00 21.50 39.00
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Between 1998 and their departure in 2005, Brian and Terry completed 29 acquisitions and 3 divestitures that provided the platform for
Flint's growth to a >$1 billion dollar business which employed over 7,500 employees across 49 North American facilities.
Brian and Terry executed on a two pronged growth plan:
Consolidation & Integration:
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a number of strategic acquisitions enabled Flint to provide a full spectrum of services, with a focus on project execution and
transition to on-going maintenance upon project completion.
during the acquisition period management focused on integrating or rationalizing the cost structure through integrated business
processes, reorganizing management, and consolidating multiple offices into single office locations.
Enhancement of the Flint Brand:
•
.
by focusing on a commitment to safety training and successful project execution, Flint developed a recurring and very loyal
customer base.
as the number of Flint built facilities increased, the level of maintenance revenue also increased as management successfully
captured long-term maintenance contracts providing a steady, recurring revenue stream.
At Vertex, the Leadership team has made inroads on executing a similar strategy and looks to continue industry consolidation while
maximizing value of the Company.
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1. Flint IPO was November 2001
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