ESTEVAN — Longtime Estevan oilfield company Hank's Maintenance has new local owners, and they are already knowledgeable about the company and what it means to the southeast oilpatch.
Robin Holma and his family purchased the business from Ironbridge Equity Partners, a mid-market, private equity group out of Toronto that focuses on small and medium-sized businesses in Canada. The sale took effect April 1.
Holma is no stranger to the company, as he had been the general manager for about a dozen years. After the sale, his son Travis moved into the general manager and sales manager's roles, but still works in the field and in the front line with the company's customers. Robin Holma said his son will eventually take over the business.
The company has been “business as usual” since the sale took effect, according to the elder Holma.
“We do see a little bit of an uptick with interest and some new customers now that it is privately and locally owned,” said Holma.
He recognizes some people in the southeast oil patch prefer to have local ownership in businesses and prefer keeping money in the area.
The company was founded by Hank Fuglerud. Among the current employees are Trent and Shawn Walkom, sons of the late Grant Walkom, who owned the business at one time.
“They’re committed to the business and they’re happy for us, too," Holma said.
Hank’s Maintenance’s primary business is pump jack maintenance, Holma said. The company has six trucks and employs 25 people. Water pumps and industrial pumps are also a big part of their business.
“We service all of southeast Saskatchewan, into Manitoba, some into Alberta, with pumps, compressors and gas engines. And then also on the industrial side, we’re involved in the potash industry and power production,” said Holma.
He said he is a believer in consistent and manageable growth. The company has been hiring and it is a busy time of year.
“We’re proud to have very, very long-term employees with low turnover, so we’re maintaining it while possibly becoming a little more efficient and looking after our people even better than we have in the past,” he said.
The longest-serving employee has been with the company for more than 40 years, he said.
It’s also rewarding for Holma to have his two sons involved with the business. Zach works for Hank’s and is also involved with the family’s other business ventures.
“Having two boys … understanding the business and wanting to carry it on for either their kids or whatever comes up, it is very satisfying,” said Holma.
Jeff Murphy with Ironbridge said their time owning Hank's Maintenance had a great start. Ironbridge purchased Hank’s Maintenance from Grant Walkom when the price of oil was still strong and business was thriving. But the price of oil slumped in the summer of 2014.
He recalls being in Estevan on an almost monthly basis for the first couple of years of Ironbridge owning Hank's, and people in the community were good to work with.
He has also been working with the Holmas for quite a while, and is pleased to see the company move forward with local ownership.
"Given that he is local, he knows the folks in the community and he has the pulse on what is going on in the oilfield there, he and his son were the right folks to buy the business,” said Murphy.
Since news of the sale went public, Holma said the response has been “unreal”, although he noted some people already thought he was the owner.
Holma said his time as general manager gives him an understanding of how the company works. Hank’s Maintenance has grown to be a service company in the area and it has a lot of long-term customers who appreciate the company’s work.
“It’s business as usual and we’re proud to carry it on like Grant did for all of those years. It’s nice to have it back locally owned," said Holma.
