Market Overview

Target Hospitality Announces CFO Transition

  • Appoints Eric T. Kalamaras as New CFO

Target Hospitality Corp. (NASDAQ:TH) ("Target Hospitality" or "the Company"), the largest provider of vertically-integrated specialty rental accommodations with premium catering and value-added hospitality services in the U.S., today announced that Eric T. Kalamaras has been named Executive Vice President and Chief Financial Officer, effective September 3, 2019. Mr. Kalamaras will succeed Andrew A. Aberdale, who has decided to spend more time with his family in Boston, Massachusetts. Mr. Aberdale has agreed to serve as an advisor to the Company for the next year, helping to ensure a smooth transition of responsibilities.

"We are pleased to welcome Eric to our executive leadership team," said Brad Archer, Target Hospitality's President and Chief Executive Officer. "He's a proven operator with significant relevant experience, making him the ideal person to serve as our next CFO. Eric's strong financial acumen makes him well suited to deliver a seamless transition as we continue to execute our strategic priorities. We are excited about the important role he will play in helping to drive sustainable and profitable growth."

Mr. Kalamaras joins Target Hospitality from American Midstream Partners, L.P., a multi-billion dollar natural gas midstream company, where he served as Executive Vice President and CFO. Over the course of his distinguished 20-year career, Mr. Kalamaras has held senior finance positions at several oil and gas companies including Azure Midstream Holdings, AXIP Energy Holdings, Delphi Midstream Partners and Atlas Pipeline Holdings. He received an M.B.A. from Wake Forest University and a B.S. in Business Administration from Central Michigan University.

"Target Hospitality is a highly differentiated company with considerable growth potential. I'm eager to do everything I can to continue driving the business forward," said Mr. Kalamaras. "I look forward to working collaboratively with my colleagues and capitalizing on the many opportunities ahead."

Mr. Archer continued, "Andy has been a key contributor to our success over the years, including helping us become a publicly traded company. Moreover, he's been a great friend and colleague. On behalf of the entire organization, I want to thank Andy for his dedication and tireless support. We wish him well in his future endeavors."

Mr. Aberdale commented, "I have truly enjoyed my time and experience at Target and appreciate what we have been able to accomplish over the years. We have built a strong team, and I have formed life-long friendships here. I have full confidence in the Company's business plan, financial strength, and mostly the Target Team."

To learn more about Target Hospitality, visit

About Target Hospitality

Target Hospitality is the largest provider of vertically integrated specialty rental accommodations and value-added hospitality services in the United States. Target Hospitality builds, owns and operates customized housing communities for a range of end users, and offers a full suite of cost-effective hospitality solutions including culinary, catering, concierge, laundry and security services as well as recreational facilities. Target Hospitality primarily serves the energy and government sectors and its growing network of communities is designed to maximize workforce productivity and satisfaction.

Cautionary Statement Regarding Forward Looking Statements

Certain statements made in this press release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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