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View All NewsUK – Air Energi grows following acquisitions, plans for more
Manchester-based oil & gas recruitment firm Air Energi reported turnover of £385 million in 2013, an increase of +33% compared with £290 million in 2012. Gross profit for the year increased by +27% to £44 million, up from £34 million a year ago.
Ken McPherson, Group Finance Director of Air Energi, commented: “Air Energi’s financial results for 2013 are all the more impressive because this is the sixth consecutive year we have delivered substantial growth.”
Over the past 12 months, Air Energi has expanded its presence in the US shale market with the opening of offices in Texas and Colorado. The company also completed two significant acquisitions in the form of Inspirec Limited, a specialist recruiter for New Zealand’s energy industry, and Kitco, a South Korean manpower, training, accommodation, and procurement services company.
Ian Langley, Group Chairman of Air Energi, added: “Acquisitions are part of our strategic armour to deliver growth. Air Energi’s acquisition of Inspirec presents significant opportunities for our workforce solutions in what is a relatively uncontested and rapidly growing energy market. Meanwhile, Kitco presents oil and gas operators using Korean shipyards with a compelling case to consider Air Energi as a trusted partner for the complete project lifecycle. It also provides us with a springboard for further expansion into North Asia. We are actively pursuing further acquisitions and are now looking to expand into Africa and China, with a focus on LNG (Liquefied Natural Gas) projects in particular.”
Duncan Gregson, Group CEO of Air Energi, concluded: “We have continued to invest in our operational support systems, business development, and portfolio of services. We have realigned our service lines into three distinct streams – Talent Acquisition, Global Mobility Services, and Integrated Project Solutions. We believe that this realignment has substantially improved the communication of Air Energi’s capabilities and experience to clients and candidates.”