px Group announces today that Aksiom Services Group, a partnership between Ara Partners and the Aksiom Group, and px Group management, have acquired the company, setting the foundations for the company’s ambitious growth strategy through the Energy and Industrial Transition. px Group will continue to be led by its current senior management team and chairman, assuring complete continuity for px Group’s employees, customers, and other stakeholders. The transaction facilitates the exit of private equity firm Bluewater from px Group’s shareholder base, following a highly successful five-year partnership for both parties.
Geoff Holmes, px Group CEO, stated, “For decades, px has provided safe and reliable operations to major infrastructure asset owners across the energy and industrial sectors. Working in partnership with our customers to achieve continuous improvements in safety, efficiency and performance, providing material benefits to all stakeholders and the environment. Today, as the company looks across the UK and Europe to potential new markets, we are encouraged by our unprecedented activity levels and available opportunities for px Group to be a leading participant in delivering and operating the next generation of energy and industrial assets for our current and new customers. The Aksiom Services Group’s combination of Ara’s focus on investing in industrial decarbonisation and Aksiom’s expertise in developing high-growth technical services companies is a perfect fit for our strategy.”
Charles Cherington, Managing Partner at Ara, said, “px Group’s well-proven technical, project management and operations expertise through the full lifecycle of complex infrastructure assets creates a unique, high-value opportunity for an investor like Ara, with a portfolio of companies developing and building low carbon industrial infrastructure. Reducing carbon intensity across all of industry – both the large installed base of existing assets and those assets to be built over the coming decades – is core to Ara’s mission, and px Group delivers that objective exceptionally well.”
About px Group
px Group is an award-winning, fully integrated infrastructure solutions business delivering innovative management services for high hazard and highly regulated environments. px Group manages, operates and maintains some of the UK’s largest industrial facilities, and owns the world-renowned Saltend Chemicals Park at the heart of the UK’s Energy Estuary.
With over 25 years’ experience, px Group delivers end-to-end specialist services in operations & maintenance, engineering services and energy trading across the industrial and energy infrastructure sectors.
About Ara Partners
Ara Partners is a private equity firm specialising in industrial decarbonisation investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that are focused on sustainability and ESG principles. For more information on Ara Partners, please visit www.arapartners.com.
About Aksiom Group
The Aksiom Group, based in Dublin, identifies, acquires, and develops high-potential technical services companies and differentiated asset-based strategies across the European infrastructure sector. Aksiom’s founders, Christopher Picotte and Luis Pais Correia have been shareholders and the chairman (since 2013) and a board director (since 2014), respectively, of px Group through several stages of its recent growth.
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