09 02 2016

Air Energi and Swift Worldwide Resources combine in strategic merger of equals

Air Energi Group Limited and 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. Airswift states that it will have the largest geographic footprint in the industry and it that it will offer a suite of workforce solutions on a worldwide basis, including recruitment for contract staff and permanent hires, resource consultancy, global mobility and managed solutions. The newly formed Airswift will be led by new CEO, Peter Searle, former chief executive of Adecco in the UK and Ireland. Ian Langley, founder and chairman of the board at Air Energi, will serve as chairman, and Janette Marx, chief operating officer of Swift, will become COO. Ashurst advised private equity house LGV Capital and its portfolio company Air Energi Group Limited on the deal with a team led by private equity partner Bruce Hanton (picture) assisted by solicitor Jacob Gold and Competition partner Neil Cunninghame. Involved fees earner: Bruce Hanton - Ashurst; Jacob Gold - Ashurst; Neil Cunninghame - Ashurst;

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