Aksiom Services Group’s Acquisition of px Group

McDermott Will & Emery advised the Aksiom Services Group in the transaction.

The Aksiom Services Group, a partnership between Ara Partners and Aksiom Group, executed the acquisition of px Group (px) from Bluewater Private Equity, a specialist international private equity firm focused on the middle-market energy sector.

Based in Stockton, UK, px Group is an integrated infrastructure solutions provider. The Company manages complex energy and industrial assets and provides complementary services across energy management, engineering and consultancy.  Additionally, the Company owns the Saltend Chemicals Park (“Saltend”), a 370-acre industrial center in the UK’s Humber Region. Saltend is home to several world-class chemicals and renewable energy businesses, is a partner in Equinor’s flagship hydrogen project, H2H Saltend, and will host Pensana’s materials processing facility producing key elements for the renewables sector.  px Group is led by Chief Executive Officer, Geoff Holmes. 

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 though several stages of its recent growth.

Ara Partners is a private equity firm specializing in industrial decarbonization 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.

The McDermott team, advising the Aksiom Services Group on the acquisition and financing aspects of the transaction, was led by finance partner Aymen Mahmoud (Picture) and supported by partners Tom Whelan, Andrea Hamilton, James Ross and Paul McGrath. Counsel Arvin Abraham and associates Nick Jupp, Rosie Mist, Antonina Nijran, Rosemary McSwiney, Sophie Wood with trainees Ryan Clarke and Simon Margesson, all advised.

Involved fees earner: Arvin Abraham – McDermott Will & Emery; Andrea Hamilton – McDermott Will & Emery; Nicholas Jupp – McDermott Will & Emery; Aymen Mahmoud – McDermott Will & Emery; Paul McGrath – McDermott Will & Emery; Rosemary McSwiney – McDermott Will & Emery; Rosie Mist – McDermott Will & Emery; Antonina Nijran – McDermott Will & Emery; James Ross – McDermott Will & Emery; Tom Whelan – McDermott Will & Emery; Sophie Wood – McDermott Will & Emery;

Law Firms: McDermott Will & Emery;

Clients: Aksiom Services Group;

Author: Federica Tiefenthaler