Sparus Holdings Announces Resignation of CFO

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Wishes to Pursue Other Professional Interests

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Sparus Holdings, Inc. announced that Sean Durkin, its chief financial officer, has resigned effective today. Chief Executive Officer Ron Bertasi said, “Sean has been an important member of the Sparus team for more than 12 years, and much of the company’s success during that time is attributable to Sean’s leadership. We wish him well as he moves on to other challenges.” Mr. Durkin said, “My time at Sparus has been rewarding, and I enjoyed the opportunity to work with such a talented group. Sparus and its affiliates have grown to become a sizeable business, with over 500 employees across the U.S. and Canada, and at this point in my career I would like to return to working in smaller, more entrepreneurial ventures. With the recent change in leadership at Sparus, I believe that now is the right time for me to do so.”

Mr. Durkin joined Sparus in 2002 from The Winter Group, where he served as executive vice president and chief financial officer. Prior to that, Mr. Durkin held management positions with Marriot International.

Sparus has begun recruiting for a CFO and expects to have the position filled shortly.

About Sparus Holdings, Inc.
Sparus Holdings owns operating businesses providing field, professional, and technology services to utilities and other large industrial customers. Sparus has served the utility industry since the founding of Southern Cross Corp., its largest operating business, in 1946. Sparus provides strategic direction, management oversight, and financial resources to facilitate growth in its operating businesses. Based in Norcross, Georgia, Sparus is privately held by Source Capital, LLC and management. For more information, see http://www.sparusholdings.com.

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Kevin Anthony

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