Palatine Private Equity portfolio company Air Energi Group has strengthened its presence in the Far East with an acquisition in Indonesia.
Air Energi has acquired the technical consulting and professional manpower business of oil services company PT Satoil based in Jakarta. The acquisition gives Air Energi Group a significant base to expand its in-country oil and gas business and to service its global clients who have significant project activity in Indonesia.
Two senior directors, Ronnie Steele and Sarwono Satrio, from PT Satoil have both become directors of PT Air Energy with immediate effect.
Palatine originally backed the £30m buyout of Air Energi Group in August 2009. The business has been a global provider of manpower solutions to the energy sector for over three decades and has supported some of the most significant oil and gas capital development projects in the world. Air Energi operates from over twenty five locations around the globe including Singapore, the USA, Australia, Japan and Kazakhstan.