HOUSTON, Aug. 23, 2018 (GLOBE NEWSWIRE) -- Hi-Crush Partners LP (NYSE: HCLP), "Hi-Crush" or the "Company", today announced that on August 20, 2018, John R. Huff notified the Company of his resignation from the Board of Directors (the "Board"). Mr. Huff has served as a non-independent director of Hi-Crush Proppants LLC since May 2011 and was appointed to the Board of the Company’s general partner by Avista Capital Partners in May 2012.
"I have considered it a privilege to serve on the Board and to work with the extraordinarily talented team that has been assembled at Hi-Crush and to have played a role in the Company’s development," said Mr. Huff. "I wish the Company success in the future."
On August 23, 2018, the Board appointed Thompson Dean to fill the vacant non-independent Board seat resulting from Mr. Huff’s resignation. Following these changes, the composition of Hi-Crush’s Board remains unchanged, including three independent directors.
Mr. Dean is the Managing Partner and Co-Chief Executive Officer of Avista Capital Partners. Prior to co-founding Avista Capital Partners in 2005, Mr. Dean led DLJ Merchant Banking Partners for 10 years. Mr. Dean served as Managing Partner of DLJMB I, II and III and DLJ Growth Capital Partners until his departure in 2005 and was Chairman of their respective Investment Committees. Mr. Dean received a B.A. from the University of Virginia, where he was an Echols Scholar, and an M.B.A. with high distinction from Harvard Business School, where he was a Baker Scholar.
"We thank John for his many contributions to our Board over the years, dating back even before the formation of the Partnership and the time of our IPO," said Robert E. Rasmus, Chief Executive Officer of Hi-Crush Partners. "We welcome Tom to our Board and look forward to benefiting from his significant board experience as we continue to execute on our Mine. Move. Manage. operating strategy."
About Hi-Crush
Hi-Crush is a premier provider of proppant and logistics solutions to the North American energy industry. Our portfolio of purpose-built production facilities is capable of producing 13.4 million tons per year of high-quality monocrystalline sand, a specialized mineral used as a proppant during the well completion process, necessary to facilitate the recovery of hydrocarbons from oil and natural gas wells. Our Wisconsin production facilities' direct access to major U.S. railroads enhances our delivery capabilities into consuming basins, while our strategically located owned and operated in-basin terminals as well as our Texas production facility positions us within close proximity to significant activity in all major oil and gas basins for advantageous truck transportation. Our integrated distribution system, enhanced by our innovative PropStream logistics solution, efficiently delivers proppant the "last mile" into the blender, providing customers surety of supply from mine to wellsite. For more information, visit www.hicrush.com.
