Steve McClain Appointed President Of Klondyke Construction

Klondyke Construction, a subsidiary of Pike Electric Corporation (NYSE: PIKE), today announced that Steve McClain, formerly Vice President and Chief Financial Officer, has been appointed President of Klondyke Construction. Howard Varner, current President and founder of Klondyke Construction, will remain actively involved with the company as Senior Vice President Operations.

“We are fortunate to have two strong leaders at Klondyke and we are taking this opportunity to ensure an orderly transition in leadership,” said J. Eric Pike, Chairman and CEO of Pike Electric Corporation. “Howard founded Klondyke in 1984 and under his direction the company has experienced tremendous growth both in size and diversity of projects. It has been Howard’s desire to become more involved in the day-to-day operations and with Steve’s knowledge and experience we feel now is the time to make these moves.”

Steve joined Klondyke in 2003 as Vice President and CFO and became an owner in 2007. Steve and Howard sold the company to Pike in 2010. Prior to Klondyke, Steve established and served as Vice President, General Manager and Director of ACM Equipment Rental and Sales, a construction equipment distributor and rental company in the Southwest. Steve has led and participated in several acquisitions and mergers, including the rollup of ACM Equipment with five equipment firms and subsequent sale to a private equity firm in 1999. Steve received his Bachelor of Science and MBA from the University of Oregon.

“This is an exciting opportunity and I look forward to continuing to work with the team here at Klondyke. Howard led the company through a period of dramatic growth and change, and I look forward to continuing that momentum. I am also excited that Howard will remain in a critical leadership role for the foreseeable future,” said Steve.

About Klondyke Construction

Klondyke Construction, LLC a subsidiary of Pike, is a power infrastructure contractor based in Phoenix, Arizona delivering a comprehensive range of services related to the generation, transmission, and distribution of electrical power including but not limited to electrical structures and equipment, underground and overhead transmission lines, turnkey substations and drilled pier foundations.

Klondyke also provides electrical and heavy civil construction services to power generating stations and utility scale solar installations, (CSP and PV), including transmission interconnects, substations, switchyards and balance of systems such as solar panel and module installation, solar field electrical and fiber optic installation and testing. For more information visit Klondyke at www.klondykeinc.com.

About Pike Electric Corporation

Pike Electric Corporation is a leading provider of energy solutions to over 300 investor-owned, municipal and cooperative utilities in the United States. Our comprehensive services include facilities planning and siting, permitting, engineering, design, installation, maintenance and repair of electric and communication infrastructure. Our common stock is traded on the New York Stock Exchange under the symbol PIKE. For more information, visit us online at www.pike.com.

Copyright Business Wire 2010

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