Palatine-backed Air Energi bolts on Indonesia’s Satoil

Made through its subsidiary Air Energy Consulting, the bolt-on acquisition gives the international recruitment company a larger base to expand its Indonesian oil and gas offerings and service its global clients who operate in the country.

Following the deal, Satoil executives Ronnie Steele and Sarwono Satrio will become directors of the consulting unit.

Air Energi is backed by Palatine (formerly known as Zeus Private Equity), which led the GBP30 million ($47 million) management buyout of the group in 2009. The private equity firm invested £10 million of equity alongside the management team, headed by executive chairman Ian Langley and CEO Duncan Gregson, while Barclays Bank provided working capital facilities.

Based in Manchester, UK Air Energi recruits contract, project and full time engineers and technical specialists who deliver in-country support for a variety of personal needs, including accommodation, pre-assignment screening, transport, health, work permits, visas and taxation. Founded in 1987, the group operates from offices in Europe, Asia Pacific, the Middle East and the Americas.

Satoil represents Air Energi's first acquisition since its purchase of Pacifica HR, a Papua New Guinea-based HR consultancy, in 2010. The acquired business trades under the name of Air Energi Pacifica.

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• Topics
• Southeast Asia
• Support services
• Portfolio management
• Indonesia
• energy
• Europe