Aksiom Services Group, a partnership between Ara Partners and the Aksiom Group, and Px Group management, have acquired Px Group, setting the foundations for the company’s 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 five-year partnership.
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.
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.”