Airswift buys three New Tech Global units, adding 30% to US contractor base

Airswift has acquired the assets of three New Tech Global businesses in a deal that increases its US contractor base by approximately 30 percent, according to The Global Recruiter.

The deal covers New Tech Global Ventures, New Tech Global Rig Personnel and NTG Auburn, Airswift said in a statement issued through Gemspring Capital, its private equity owner. The first two businesses supply upstream oil and gas workforce solutions across drilling and completions. NTG Auburn will be rebranded Auburn Energy Management and brings project and asset management, contract operations and technical advisory services.

Airswift already sells talent acquisition, global employment and mobility, and managed solutions from more than 60 offices, with hubs in Houston, Manchester and Singapore. Auburn gives it work to manage, not just roles to fill.

Airswift CEO James Allen framed the purchase as a bet on the durability of US energy demand: "We are investing in US energy because we believe the demand for skilled talent and reliable project delivery is durable, and we intend to be the partner clients turn to for both."

Four NTG leaders, Roger Koeppe, David Rodriguez, Nick Andrews and Mark Malone, will join Airswift, and the acquired contractors move onto Airswift's contractor care and support infrastructure.

Texas Capital Securities acted as exclusive financial adviser to NTG, with Bonds Ellis Eppich Schafer Jones LLP as legal counsel.

Gemspring, based in Westport, Connecticut, has $5.1 billion of capital under management and targets middle-market companies with up to $2.0 billion in revenue across sectors including business services and tech-enabled services.