US-based Air Energi Group Limited and UK-based Swift Worldwide Resources Limited have merged to form Airswift Holdings Limited, a $1.2bn turnover company specialising in global workforce solutions for the energy, process and infrastructure industries.
The transaction was structured as an all-stock merger backed by Swift and Air Energi’s private equity backers, Wellspring Capital Management and LGV Capital.
With the largest geographic footprint in the industry, Airswift will offer workforce services on a worldwide basis, including recruitment for contract staff and permanent hires, resource consultancy, global mobility and managed solutions.
Airswift will be led by new CEO, Peter Searle, former chief executive of Adecco in the UK and Ireland. Peter brings more than 28 years’ experience in the global recruitment sector.
Ian Langley, founder and chairman of the board at Air Energi, will serve as chairman of Airswift, and Janette Marx, chief operating officer of Swift, will become Airswift COO.
“This merger creates one of the world’s largest and most trusted partners in global workforce solutions. There is an obvious strategic fit between the two organisations: culturally, geographically and operationally. We believe this combination, supported by more than 35 years’ experience in the business, creates a unique proposition in our market, enabling us to develop long-term partnerships with our clients to deliver on their strategic goals,” Searle says.
The company will have a total of 57 operating locations, employ more than 800 people globally and manage a workforce exceeding 6,000 worldwide.
Airswift will have three corporate hubs in Manchester, Houston and Singapore.
“In a rapidly changing business climate, Airswift’s size and global reach will give us the flexibility to scale our workforce solutions as our clients’ needs evolve – wherever they are located around the world,” Marx says.
