RECRUITMENT and workforce solutions companies Air Energi and Swift Worldwide Resources will merge, forming a new company to be known as Airswift Holdings.
Structured as an all-stock merger backed by Swift and Air Energi’s private equity backers, Wellspring Capital Management and LGV Capital, the merged company will have three corporate hubs in Manchester, Houston and Singapore.
Worth a combined US$1.2 billion, Airswift will have 57 operating locations, employ more than 800 people globally and manage a global workforce of over 6,000.
With the largest geographic footprint in the industry, Airswift will offer a suite of workforce solutions including recruitment for contract staff and permanent hires, resource consultancy, global mobility and managed solutions.
Airswift’s incoming chief executive, Peter Searle, has 28 years’ experience in recruitment and was formerly chief executive of Adecco in the UK and Ireland.
“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,” Mr Searle said.
Air Energi founder and chairman Ian Langley will be chair of the new company while Swift chief operating officer Janette Marx will retain her role at Airswift.
Swift chief executive Tobias Read and Air Energi chief executive Duncan Gregson will remain on the board of the merged company as non-executive directors, Mr Langley added.
LGV Capital managing director Michael Mowlem said the merger was designed to capitalise on the strengths of two companies that were similar in size and scale.
“Each company has a commitment to the highest standards for quality and similar ways of working but, until now, have done so in different locations with different customers,” he said.
“Bringing these strengths together creates a much stronger company and an exciting proposition for all stakeholder.”