Wellspring Capital Management announced it acquired Swift Worldwide Resources. The firm engaged a global advisory team due to the complex, cross-border nature of the transaction, including: Paul, Weiss, Rifkind, Wharton & Garrison LLP (US legal counsel), MacFarlanes LLP (UK legal counsel), KPMG (accounting) and Alvarez & Marsal (tax). Swift was advised by William Blair & Company (financial) and DLA Piper (legal).
William F. Dawson, Jr., a managing partner of Wellspring, said, “We are thoroughly impressed with the commitment of the Swift organization to provide unparalleled service to its clients and contractors. We look forward to partnering with Tobias Read, CEO of Swift, and the management team to execute our strategic growth plan.”
Read said, “We are delighted to partner with Wellspring at a time of great opportunity for Swift. The principals of Wellspring bring a deep understanding of our industry and the fundamentals of a people-centric service business where Swift’s experienced, dedicated and high-integrity employees are the key to success.”
Headquartered in Houston, Swift is a global provider of contract engineers and other skilled personnel to the global oil and gas industry.