Gresham’s Swift buyout

Swift Technical, a specialist recruitment and relocation firm servicing the oil and gas sectors, has been acquired by its management in a deal backed by Gresham Private Equity.

Counting the likes of BP, Exxon and Shell amongst its clients, Swift is expected to generate revenues of around £128 million this year.

Operating from offices in London, Houston, Moscow and Rio (to name but four), Swift offers its services to both onshore and offshore oil and gas projects and expects to benefit from the continuing search for new reserves, as global energy demands rise exponentially. According to some reports Exxon alone expects to spend more than $14 billion investigating new projects this year.

Existing Swift managing director Richard Mulcahy heads the MBO team and is upbeat with regard to the group’s future prospects. ‘This is a very positive move for all of our customers and employees,’ he comments. ‘Gresham’s support will allow us to continue our growth in the ever-expanding energy staffing sector.’

Gresham’s investment in the business is believed to be in the region of £21 million.

Marc Barber

Marc Barber

Marc was editor of GrowthBusiness from 2006 to 2010. He specialised in writing about entrepreneurs, private equity and venture capital, mid-market M&A, small caps and high-growth businesses.

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