Ulterra announced today it was proclaimed “the fastest growing drill bit company” in the Spears & Associates’ 2011 Oilfield Market Report. Started in 2005, Ulterra, a portfolio company of Intervale Capital, has grown from primarily a North American company to a global supplier of PDC bits and down hole tools. In the last year, Ulterra has recorded a 44% increase in revenues while expanding its operations substantially to the Middle East and Latin America markets. In the last four years, Ulterra has doubled its work force while strategically positioning an organization for expanded market presence and growth.

“As we move forward into 2012 Ulterra’s focus will remain on being the Employer
of choice. This results in our customers receiving the highest level of service and
performance in the market and enables sustainable growth.” Warren Dyer, CEO