Merger with Swift Worldwide Resources
Baird served as financial advisor to Air Energi on this transaction
AboutAir Energi Group (“Air Energi”), a portfolio company of LGV Capital (“LGV”) and Swift Worldwide Resources (“Swift”), a portfolio company of Wellspring Capital Management (“Wellspring”) have merged to form Airswift Holdings Limited (“Airswift” or “the Company”). The transaction was structured as an all-stock merger.
Airswift, a $1.2 billion turnover company specialising in global workforce solutions for the energy, process and infrastructure industries, combines two of the world’s leading names in energy recruitment to offer clients a truly global service and an unrivalled candidate pool across a broad spectrum of skills. The Company 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. Airswift will have a total of 57 operating locations, employ more than 800 people globally and manage a deployed workforce exceeding 6,000 worldwide. Airswift will have three corporate hubs in Manchester, the United Kingdom, Houston, Texas and Singapore.
LGV Capital, founded in 1986, is a private equity firm operating in the United Kingdom mid-market and part of Legal & General Group. LGV Capital is headquartered in London, the United Kingdom.
Wellspring Capital Management, founded in 1995, is a middle-market private equity firm that manages more than $3 billion of private equity capital. The firm’s objective is to bring partnership, experience and value creation to each investment. By teaming up with strong management, Wellspring is able to unlock underlying value and pursue new growth opportunities through strategic initiatives, operating improvements and add-on acquisitions. Wellspring Capital Management is headquartered in New York, New York.
For additional information about this transaction, please contact:
- January 2016
- Air Energi Group
- Technology & Services
- Target Location
- Acquiror Location
BGRS, a subsidiary of Relo, combination with SIRVA, a portfolio company of MDP
BHI, a portfolio company of AEI, acquisition by Westinghouse, a portfolio company of Brookfield