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Veritas Capital has completed the acquisition of Wood Mackenzie from Verisk (Nasdaq: VRSK). This strategic move positions Wood Mackenzie as an independent company, enhancing its ability to provide critical analytics in the energy and renewables sector. Wood Mackenzie, which has been in operation for nearly 50 years, is set to leverage its industry expertise under the leadership of newly appointed CEO Mark Brinin and COO Joe Levesque. Veritas, managing over $40 billion in assets, aims to drive growth and innovation within Wood Mackenzie, focusing on the global energy transition.
Positive
Acquisition strengthens Wood Mackenzie's independence and potential for growth.
Veritas's $40 billion assets under management provide strategic resources for expansion.
Experienced leadership team expected to drive innovation in energy analytics.
Negative
None.
NEW YORK & LONDON--(BUSINESS WIRE)--
Veritas Capital (“Veritas”), a leading investor at the intersection of technology and government, today announced that an affiliate of Veritas has completed the purchase of Wood Mackenzie from Verisk (Nasdaq: VRSK).
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.
About Veritas Capital Veritas is a longstanding technology investor with over $40 billion of assets under management and a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means.
Leveraging technology to make a positive impact across vitally important areas, such as healthcare, education, and national security, is core to the firm. Veritas is a proud steward of national assets, improving the quality of healthcare while reducing cost, advancing our educational system, and protecting our nation and allies. For more information, visit www.veritascapital.com.
About Wood Mackenzie Wood Mackenzie is a trusted source of commercial intelligence for the world's natural resources sector. We empower customers to make better strategic decisions, providing objective analysis and advice on assets, companies and markets. For more information, visit: www.woodmac.com or follow us on Twitter @WoodMackenzie.
WOOD MACKENZIE is a trademark of Wood Mackenzie Limited and is the subject of trademark registrations and/or applications in the European Community, the USA, and other countries around the world.
