BABC Member Airswift
Houston-based Swift Worldwide Resources is very active these days. Not a week after Swift, a staffing firm focused on energy and infrastructure, spun off a business unit focusing exclusively on energy, the company is now merging with U.K.-based Air Energi to create Airswift Holdings Ltd.
The newly created company is a $1.2 billion turnover company, according to an advanced copy of a press release obtained by the Houston Business Journal announcing the merger.
The deal was structured as an all-stock merger backed by Swift and Air Energi’s private equity backers, New York-based Wellspring Capital Management and U.K-based LGV Capital.
Heading Airswift is new CEO Peter Searle, former chief executive of Adecco in the U.K. and Ireland. Joining Searle is Ian Langley, founder and chairman of the board at Air Energi, who will serve as chairman of Airswift. To complete the triad is Janette Marx, COO of Swift, who will now be the COO of Airswift.