Veritas Capital has announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
Veritas Capital said that Wood Mackenzie is a globally recognized industry leader that has been providing quality data, analytics, and insights used to power the energy, renewables, and natural resources industry for nearly 50 years. The Wood Mackenzie Lens© platform enables world class analytics and insights to drive critical decision making for the company’s longstanding clients that operate at the leading edge of the rapidly evolving energy sector. Wood Mackenzie operates at the nexus of current energy industry tailwinds, offering clients leading energy data and analytics with the bold purpose of transforming the way the planet is powered. The acquired company will be led by Mark Brinin, who has been promoted from Co-President to Chief Executive Officer. Joe Levesque has been appointed as President & Chief Operating Officer.
Mark Brinin, Chief Executive Officer for Wood Mackenzie said, “We are excited to embark on the next chapter for Wood Mackenzie in partnership with Veritas. To be returning to our roots as a standalone company and partnering with a firm with Veritas’ track record places us in a unique and enviable peer group. In Veritas, we have found a strategic partner that will enable us to realise greater value for our customers, both in mature markets we have served for the last five decades, as well as in the evolving power and renewables sector which is currently driving the global energy transition.”
Veritas brings deep sector knowledge and operational expertise to Wood Mackenzie. As a premier investor in technology and technology-enabled companies that provide critical products, software, and services to government and commercial customers worldwide, Veritas will assist Wood Mackenzie as it continues to play a critical role in accelerating the global transition to a more sustainable future.
“We are excited to welcome Wood Mackenzie to the Veritas portfolio and partner with the team to drive its next phase of growth,” said Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas. “Building on its decades of leadership and innovation in the energy industry, Wood Mackenzie is well positioned to expand and enhance the critical insights provided to its growing customer base across the entire energy and renewables value chain.”
Morgan Stanley acted as financial advisors and Davis Polk & Wardwell LLP served as legal counsel to Verisk in connection with the transaction. Gibson, Dunn & Crutcher LLP served as legal counsel to Veritas.
