FINANCIALS: Air Energi continues expansion through acquisitions
18 September 2014
Oil & gas recruitment company Air Energi Group said it was continuing to deliver impressive growth as it reported turnover up by a third to £385m and a 27% increase in gross profit to £44m for the full year.
Thu, 18 Sep 2014Oil & gas recruitment company Air Energi Group said it was continuing to deliver impressive growth as it reported turnover up by a third to £385m and a 27% increase in gross profit to £44m for the full year.
Air Energi’s group finance director Ken McPherson said this was the company’s sixth consecutive year of growth.
“We are also delighted to have added RBS to our global banking syndicate, while bringing ANZ [Air New Zealand] on board for Papua New Guinea ensures we have the banking support necessary to implement our exciting plans for future growth,” said McPherson.
The company has expanded its presence in the US shale market with the opening of offices in Midland, Texas and Denver, Colorado last year.
The company also completed the acquisitions of Inspirec, the leading specialist recruiter for New Zealand’s energy industry, and South Korea’s Kitco which supplies local manpower, training, accommodation and procurement services.
The latter acquisition will enable Air Energi to provide a ‘one-stop shop’ global workforce solutions perspective and providing a solution to the challenge of finding suitable accommodation for expatriate workers in a nation accounting for 48% of the global offshore shipbuilding market by value.
Meanwhile, it added, the acquisition of Inspirec presents opportunities for the company’s workforce solutions in what is a relatively uncontested and rapidly growing energy market.
The company added that it was actively pursuing more acquisitions as it looked to expand into Africa and China, with a focus on liquefied natural gas (LNG) projects in particular.
Air Energi’s group finance director Ken McPherson said this was the company’s sixth consecutive year of growth.
“We are also delighted to have added RBS to our global banking syndicate, while bringing ANZ [Air New Zealand] on board for Papua New Guinea ensures we have the banking support necessary to implement our exciting plans for future growth,” said McPherson.
The company has expanded its presence in the US shale market with the opening of offices in Midland, Texas and Denver, Colorado last year.
The company also completed the acquisitions of Inspirec, the leading specialist recruiter for New Zealand’s energy industry, and South Korea’s Kitco which supplies local manpower, training, accommodation and procurement services.
The latter acquisition will enable Air Energi to provide a ‘one-stop shop’ global workforce solutions perspective and providing a solution to the challenge of finding suitable accommodation for expatriate workers in a nation accounting for 48% of the global offshore shipbuilding market by value.
Meanwhile, it added, the acquisition of Inspirec presents opportunities for the company’s workforce solutions in what is a relatively uncontested and rapidly growing energy market.
The company added that it was actively pursuing more acquisitions as it looked to expand into Africa and China, with a focus on liquefied natural gas (LNG) projects in particular.
- Air Energi was voted Best Engineering Recruitment Agency at the Recruiter Awards for Excellence 2014 earlier this year. Next year’s Awards will be open for entries soon.
