Wood Mackenzie supplies knowledge, analytics, and insights to energy the power, renewables, and pure sources business. The Wood Mackenzie Lens platform permits world class analytics and insights to drive essential resolution making for the corporate’s longstanding shoppers that function within the quickly evolving power sector
“This transaction best positions Verisk to expand our role as a strategic data, analytics, and technology partner to the global insurance industry, and as a result, drive growth and returns that will create long-term shareholder value,” stated Lee Shavel, Verisk CEO. “It may even additional advance Wood Mackenzie’s aggressive place and help the very important roles each organizations play of their respective industries.
“As co-presidents of Wood Mackenzie, Mark Brinin and Joe Levesque have demonstrated remarkable leadership and have continued to grow the business by relentlessly innovating on behalf of their clients. We’re proud to have supported Wood Mackenzie’s growth and are confident in their bright future as part of Veritas.”
The sale of Wood MacKenzie exhibits Verisk’s continued efforts to optimize the enterprise for peak efficiency and long-term sustainable progress and worth. After an in-depth portfolio evaluation, Verisk divested its monetary companies and environmental well being and security companies earlier this 12 months.
The whole buy value of the Wood McKenzie deal is topic to typical changes for, amongst different issues, the working capital and the debt of the enterprise at closing. Verisk will use the after-tax proceeds to pay down debt and return worth to shareholders by share repurchases.
Veritas Capital is a longstanding expertise investor with greater than $45 billion of belongings beneath administration and focuses on corporations working on the intersection of expertise and authorities. It invests in corporations that present essential merchandise, software program, and companies, primarily expertise and technology-enabled options, to authorities and industrial clients worldwide.
“Drawing from its decades of leadership and innovation, Wood Mackenzie is playing a vital role at the forefront of the global energy transition by providing essential data and insights to organizations across the value chain,” stated Ramzi Musallam, CEO and managing accomplice of Veritas. “In partnership with Wood Mackenzie leadership, and with the strong backing of our strategic investment, we have an opportunity to enhance and expand the datasets and solutions the company provides to its growing customer base, from upstream producers who are looking to decarbonize to new energy asset managers who want to optimize their investments.”