Energy recruiters Air Energi Group and Swift Worldwide Resources have merged to form Airswift Holdings, with former Adecco UK & Ireland chief executive Peter Searle becoming CEO of the $1.2bn (£840m) turnover firm.

The merger, announced in a statement this morning, will see Airswift offer contract and permanent recruitment services, resource consultancy, as well as global mobility and managed solutions across 57 operating locations globally. 

Speaking to Recruiter this morning, Searle, who left Adecco last autumn, expressing a desire to set up a global mobility company, said the merger was a “perfect marriage” due to global mobility and recruitment firm Air Energi’s focus on the Europe, Middle East & Asia region, and oil & gas recruiter Swift’s coverage of Asia and America.

“When you put the two of them together we have world coverage. The overlap between the companies was minimal,” he added.

According to Searle, the lack of any meaningful overlap means job losses connected to the merger will be minimal. However, one of the company’s two chief financial officers – Ken McPherson of Air Energi or James Dymott of Swift – will leave the business. The company has yet to decide which CFO will leave, Searle said.

Meanwhile, Ian Langley, founder and chairman of the board at Air Energi, takes the role of chairman of Airswift, while Searle will be reunited with former Adecco senior vice president Janette Marx, previously chief operating officer of Swift, who becomes Airswift COO. Tobias Read, the former CEO of Swift, retains a place on the merged company’s board. No details were provided on Air Energi CEO Duncan Gregson’s plans.

The merged company will employ more than 800 people globally and manage a deployed workforce of more than 6,000 worldwide. Airswift will also service clients from three resource centres in Manchester, Houston and Singapore.

The transaction was structured as an all-stock merger backed by Swift and Air Energi’s private equity backers Wellspring Capital Management and LGV Capital.

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