Energy recruitment firm Air Energi has merged with global counterpart Swift Worldwide Resources, a global oil and gas services company, to become Airswift Holdings Ltd. This mega merger has created a company worth £800 million, operating in 57 locations with over 800 staff managing a deployed labour force of more than 6000 globally.
The all-stock merger was backed by private equity firms LGV Capital and Wellspring Capital Management. Both Air Energi and Swift Worldwide Resources have a reported annual turnover of around £400 million and both bring strong balance sheets to the table.
The merger is intended to build on the strengths of the two companies which are similar in size and reach, but which operate in different regions, with different clients.