CAM Industrial Solutions Announces Retirement of CEO and Successor

HOUSTON and CALGARY, AB, Oct. 4, 2024 /PRNewswire/ -- CAM Industrial Solutions LLC ("CAM Industrial Solutions" or the "Company") today announced that its CEO Donovan Boyd will retire from his post, effective on October 7^th, 2024. This retirement has been planned for some time, and Mr. Boyd will continue to serve the Company as its non-executive Chairman. Mr. Boyd will be succeeded by Mr. Greg Rice, a proven industrial services executive, with decades of experience.

Mr. Boyd, departing CEO, said, "CAM Industrial Solutions is a remarkable enterprise, driven by thousands of impressive employees of skilled trades and professions. I enjoyed the opportunity to assemble and work with this team, and I will miss the daily interaction with them greatly. The Company is fortunate to attract Greg Rice as its next chief executive, a person whom I have known and worked with for over twenty-five years. He has the skills, energy and demeanor to help carry the enterprise forward and allow CAM to reach its full potential."

Mr. Mick Kaefer, President of the Company and leader of its operating locations across North America, added, "We are deeply grateful to Donovan for his exemplary leadership over the past couple of years. As we look toward the future, I am confident that Greg Rice is uniquely positioned to lead CAM Industrial Solutions through its next phase of growth and success. We are excited for what lies ahead under Greg's leadership."

Mr. Rice, incoming CEO, said, "I look forward to working with all the amazingly talented people at the Company.  I am grateful for the opportunity, and I am excited to get out to our sites to meet our employees and customers to continue their success."

CAM Industrial Solutions is a portfolio company of an investor group led by Cross Rapids Capital LP ("Cross Rapids Capital"). Cross Rapids Capital is an operationally driven investment firm, focused on acquiring industrial and services companies in North America. Cross Rapids Capital Partner, Mr. Kyle Cruz, concluded, "We are thrilled to welcome Greg, a leader familiar to Cross Rapids Capital, into this portfolio company, and we are confident he will make a significant contribution and help bring the Company to new heights."

About CAM Industrial Solutions LLC: CAM Industrial Solutions LLC provides maintenance and turnaround services to refineries, chemical plants, natural resource extraction and processing, and other industrial facilities across the U.S. and Canada, as well as operations and maintenance services to utilities. We employ a variety of craft, including pipefitters, boilermakers, electricians, carpenters, welders, ironworkers, millwrights, equipment operators, riggers, scaffolders, insulators, machinists, HSE technicians, and many others. For more information, please visit camindustrialsolutions.com.

About Cross Rapids Capital LP: Cross Rapids Capital LP is an operationally driven investment firm, dedicated to North American middle-market industrial and services companies. We partner with owners and management teams to accelerate companies, and we bring decades of sector, operational, and investing expertise and a hands-on, collaborative approach to empower their business success. For more information, please visit crossrapids.com.

SOURCE CAM Industrial Solutions LLC