Energy consultancy staff set for payout after takeover

Wed, 11 Mar 2015 | BUSINESS SALE

Staff at a Scottish energy consultancy are set for a £500,000 payout following its takeover by an American firm.

Edinburgh-based Wood Mackenzie has been acquired by Verisk Analytics – a risk data specialist from New Jersey. The deal, worth a reported £1.85 billion will see over 200 Edinburgh-based staff at the energy consultancy receiving an average payout of £200,000.

Founded in 1844, Wood Mackenzie was previously owned by the American private equity firm Hellman & Friedman after they purchased the business back in 2012.

The firm currently employs around 900 members of staff across 20 countries, with around half of them based in Scotland. A further half of those working in Scotland own shares in the company, with total staff shares equalling around a quarter of Wood Mackenzie.

Verisk president Scott Stephenson said: "Wood Mackenzie is a world-class company and an excellent addition to the Verisk family.

"The company has significant opportunities in the global energy, chemicals, metals and mining verticals, a track record of consistent revenue growth and profitability, distinctive and mission-critical solutions, and an impressive management team."

Wood Mackenzie CEO Stephen Halliday, who will continue in his role at the company, added that the takeover presented opportunities for both employees and customers.
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