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Wood Mackenzie, one of the world’s oldest energy consultants, could be sold for up to £2.5 billion
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One of the world’s oldest energy consultants can be sold for up to £2.5 billion.
Private equity firms, including The Carlyle Group, CVC and BC Partners, would be interested in acquiring Aberdeen-based Wood Mackenzie, City sources said. The consultancy – also known as WoodMac – was founded in the 19th century as a stockbroker.
Sale: Private equity firms including The Carlyle Group, CVC and BC Partners would be interested in acquiring Wood Mackenzie
The oil and gas markets, where WoodMac generates most of its revenue, have shrunk in recent years as demand for renewable energy rises.
But the company could get a new boost after a sudden rise in oil and gas prices following Russia’s invasion of Ukraine.
WoodMac is owned by the New York-listed owner of information giant Verisk Analytics, who bought it in 2015 for £1.85 billion. The sale has been going on since the summer, The Mail on Sunday has learned.
The consultancy produces data and research on the energy and raw materials industry. WoodMac is considered attractive because its business model is based on recurring revenue from subscription services.
The sale plan follows a campaign by US activist investor DE Shaw, who has publicly urged the Verisk board to sell assets and focus more on insurance.
Sources said bids between £2bn and £2.5bn have been submitted. All parties have been contacted for comment.