Wood Mackenzie – the Edinburgh-based data analytics and intelligence agency for the global energy industry has been sold to an American buyer for £1.85 billion – triggering an average shares payout of £500,000 for its 200 staff.
American private equity firm, Hellman & Friedman bought Wood Mackenzie in 2012. The firm has more than 900 employees in 20 countries. Half of them work in Scotland and half the Scots are shareholders.
Commenting on its new acquisition, Scott Stephenson, Chief Executive of the Nasdaq-listed Verisk Analytics, said: “Wood Mackenzie is a world-class company and an excellent addition to the Verisk family.
“The company has significant opportunities in the global energy, chemicals, metals and mining verticals, a track record of consistent revenue growth and profitability, distinctive and mission-critical solutions, and an impressive management team.
“The culture of Wood Mackenzie is well aligned with that of Verisk, and we are eager to welcome our new colleagues. We think the people, the opportunity, and the business are a wonderful fit for who we are and what we aspire to be.”
Stephen Halliday, Chief Executive, Wood Mackenzie, commented: “This combination is a natural home for the business we’ve built over the years and a great opportunity for our customers and employees. Our teams stand ready to build on the strength of our existing solutions with the benefit of Verisk’s analytic expertise, customer relationships, and financial resources.”
Halliday will continue to lead the business, reporting to Scott Stephenson.
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