The Scottish play

4 July 2012 By Quentin Webb

The global race for natural resources has yielded a rich seam of profits for Wood Mackenzie, a PE-backed specialist in energy data. Owner Charterhouse will recoup three times its money through a $1.7 bln sale. Paying a full price in 2009 was bold, but the risk has been rewarded.

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U.S. private equity firm Hellman & Friedman on July 3 said it agreed to take control of Wood Mackenzie, the Edinburgh-based energy analysis group, from British rival Charterhouse. The deal gives Wood Mackenzie an enterprise value of 1.1 billion pounds ($1.7 billion).
Hellman & Friedman will acquire 63 percent of the company’s equity, Charterhouse will keep 13 percent, and management will hold the remaining 24 percent. H&F will back the purchase with about 550 million pounds of debt. Quayle Munro and Deloitte advised Charterhouse, while Nomura advised H&F.
Charterhouse bought Wood Mackenzie from Candover in 2009. The firm is projected to make EBITDA of 88 million pounds in 2012 and more than 100 million pounds in 2013.

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