Verisk completes Wood Mackenzie takeover

Value of the completed deal said to be $2.85bn

Done deal.
Done deal.

Verisk Analytics has announced that it completed the acquisition of Wood Mackenzie Limited for $2.85bn.

Wood Mackenzie is a leading company in data analytics and commercial intelligence for the energy, chemicals, metals and mining verticals.

“We're pleased to have completed the acquisition of WoodMac, and delighted to welcome the team into the Verisk family,” said Scott Stephenson, president and chief executive officer of Verisk Analytics.

“This is a strategic acquisition that adds another Verisk-like business in a large, dynamic, and global vertical. We expect a quick and smooth integration, and are ready to pursue a range of combined company opportunities starting immediately.”

Stephen Halliday, chief executive officer of Wood Mackenzie, said: “We're thrilled to be part of Verisk which will give us a larger platform and broader solution set with which we can continue to serve our customers with excellence.”

WoodMac delivered solid results for first-quarter 2015, with revenue growth of 8.7% in GBP and EBITDA growth of 9.5% (excluding exceptional costs), as disclosed in recent filings.

Verisk financed the acquisition through:
• An equity offering with net proceeds of $722mn from the sale of 10.6mn shares at $70.00 per share
• Bond offerings of $900mn of 4.0% Senior Notes due 2025 and $350 mn of 5.5% Senior Notes due 2045
• Borrowings of approximately $1.0bn under its new $1.75bn revolving credit facility due May 2020, and cash on hand

As a part of the transaction, Verisk repaid the remaining $85mn of private placement debt.
 

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