Wood Mackenzie, also known as ''WoodMac,'' is a global research and consultancy group supplying data, written analysis, and consultancy advice to the energy, chemicals, renewables, metals, and mining industries. In 2015, the company was acquired by

Verisk Analytics Verisk Analytics, Inc. is an American multinational data analytics and risk assessment firm based in Jersey City, New Jersey, with customers in insurance, natural resources, financial services, government, and risk management sectors. The company ...

, an American data analytics and risk assessment firm, in a deal valued at $2.8 billion. The company is based in Edinburgh, Scotland, though it has over 40 offices worldwide. Originally founded as

stockbroker A stockbroker is a regulated broker, broker-dealer, or registered investment adviser (in the United States) who may provide financial advisory and investment management services and execute transactions such as the purchase or sale of stocks an ...

in 1923, the company's energy business was launched in 1973, when it started reviewing the North Sea oilfields. Between 2007 and 2014, Wood Mackenzie acquired coal specialists Hill & Associates in the US, Barlow Jonker in Australia, and Brook Hunt, the UK-based metals analysts. Since 2015 a host of companies have become part of Wood Mackenzie including PSG, a petroleum database service; PCI, the specialist chemicals analysis group; Greentech Media, providing analysis of the solar market and MAKE, providing analysis of global wind power. Wood Mackenzie was acquired by

Veritas Capital Veritas Capital is a New York-based private-equity firm founded in 1992 that invests in companies providing critical products and services, primarily technology-enabled products and services, to government and commercial customers worldwide. The ...

in 2022, in a deal valued at $3.1 billion.

History

The company was sold in 1987 to County Natwest by

Trustee Savings Bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Becaus ...

. In a 2003 report the company claimed that 25 of the largest oil companies had "destroyed value in 50 of the 80 countries they have invested in over the past six years". In a report from the company in 2005 it was discovered that Bangladesh will fail to meet natural gas demands by 2023. In 2007 a report from the company on the Alberta oil sands said "higher royalties will have the biggest impact on high-cost, low-margin projects" this sparked what has been described as a "furious debate" within the oil industry.

Detailed History:

1973: North Sea Service, Wood Mackenzie's first industry research offering, was launched 1986: Wood Mackenzie purchased by

Hill Samuel Hill Samuel is a wholly owned subsidiary of Lloyds Banking Group's Offshore Private Banking unit. It was formerly a leading British merchant bank and financial services firm before the takeover by TSB Group Plc. in 1987, which itself merged with ...

, the UK merchant bank 1987: Hill Samuel was acquired by

TSB Banking A trustee savings bank is a type of financial institution. * In the United Kingdom: ** Trustee Savings Bank, a bank in the United Kingdom that merged with Lloyds Bank in 1995 to form Lloyds TSB until 2013 ** Lloyds TSB, the name used by ...

and sold Wood Mackenzie to County NatWest 1997:

NatWest National Westminster Bank, commonly known as NatWest, is a major retail and commercial bank in the United Kingdom based in London, England. It was established in 1968 by the merger of National Provincial Bank and Westminster Bank. In 2000, it ...

sold its European equities business, including Wood Mackenzie, to

Bankers Trust Bankers Trust was a historic American banking organization. The bank merged with Alex. Brown & Sons in 1997 before being acquired by Deutsche Bank in 1999. Deutsche Bank sold the Trust and Custody division of Bankers Trust to State Street Corpor ...

1999: Bankers Trust (including Wood Mackenzie) purchased by

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

2001: Management and employee buy-out from Deutsche Bank backed by the

Bank of Scotland The Bank of Scotland plc (Scottish Gaelic: ''Banca na h-Alba'') is a commercial and clearing bank based in Scotland and is part of the Lloyds Banking Group, following the Bank of Scotland's implosion in 2008. The bank was established by th ...

2005: Refinancing deal, involving Candover Partners acquiring equity through the exit of Bank of Scotland 2007: Creation of coal team via acquisitions of Hill & Associates and Barlow Jonker. Divestment of Life Sciences division 2008: Creation of metals team via acquisition of Brook Hunt 2009: Refinancing deal, involving

Charterhouse Capital Partners Charterhouse Capital Partners is a London based private equity investment firm focused on investing in European mid-market companies valued between €200m and €1.5bn. The company targets investments across the services, healthcare, specialis ...

acquiring the majority equity stake in the business through the exit of Candover 2010: Acquisition of PetroPlan Refinery Model 2012: Refinancing deal, involving

Hellman & Friedman Hellman & Friedman LLC (H&F) is an American private equity firm, founded in 1984 by Warren Hellman and Tully Friedman, that makes investments primarily through leveraged buyouts as well as growth capital investments. H&F has focused its efforts o ...

acquiring majority shareholding whilst Charterhouse Capital Partners retained a minority stake. 2015: Acquisition of

Deloitte Deloitte Touche Tohmatsu Limited (), commonly referred to as Deloitte, is an international professional services network headquartered in London, England. Deloitte is the largest professional services network by revenue and number of profession ...

's Petroleum Services Group (PSG), a specialised oil and gas information business including a database of Exploration & Production (E&P) information 2015: Acquisition of Wood Mackenzie by

2015: Acquisition of Infield Systems, an independent provider of business intelligence, analysis, and research to the oil, gas, and associated marine industries 2015: Acquisition of PCI Chemicals, a chemicals business that offers integrated data and subscriptions research in the chemicals, fibers, films, and plastics sectors 2016: Acquisition of

Greentech Media Greentech Media, a subsidiary of Wood Mackenzie, is a media company based in Massachusetts, United States, that generates daily reports, market research studies, and news on electricity systems and green technology and green jobs. It was founded ...

, an information services provider for the electricity and renewables sector 2017: Acquisition of MAKE providing knowledge of the global onshore and offshore wind power market 2019: Acquisition of Genscape, a global provider of real-time data and intelligence for commodity and energy markets, by Verisk becoming part of Wood Mackenzie to enhance its leading research and consultancy across the natural resources sectors 2022: Acquisition of Wood Mackenzie by Veritas Capital

Leadership

* Mark Brinin, Co-President * Joe Levesque, Co-President

References

{{Portalbar, Companies Research and analysis firms Petroleum industry Companies based in Edinburgh Research and analysis firms of the United Kingdom British companies established in 1973 Consulting firms established in 1973 Consulting firms of the United Kingdom 2015 mergers and acquisitions