Reuters: Private Equity: UPDATE 1-Wood Mac valued at 1.1 bln stg in latest buyout

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UPDATE 1-Wood Mac valued at 1.1 bln stg in latest buyout Jul 3rd 2012, 14:48 Tue Jul 3, 2012 10:48am EDT * H&F deal values Wood Mac at 1.1 billion pounds * Charterhouse keeps 13 pct of Wood Mac, management 24 pct By Simon Meads LONDON, July 3 (Reuters) - Hellman & Friedman will take a majority stake in energy analysis group Wood Mackenzie in a deal that values the company at 1.1 billion pounds ($1.7 billion) and marks a relatively quick turnaround for seller Charterhouse in an otherwise sluggish buyouts market. The deal comes just three years after Charterhouse acquired the business in a 553 million pound buyout, which ranked as the largest private equity deal in 2009. While private equity groups grew rich throughout the middle of the last decade by buying companies and selling them a couple of years later for vast profits, these days buyout firms frequently own businesses for up to seven years before selling. Charterhouse, which has seen the value of the investment double under its ownership, will retain a 13 percent stake in Wood Mackenzie. Charterhouse kicked off the sales process earlier this year, hoping to hook a rival analysis, data or media group such as IHS or McGraw Hill, bankers familiar with the process have said. Hellman & Friedman, which will take a 63 percent stake in Wood Mackenzie, will be the company's third private-equity backer in the last 10 years. Wood Mackenzie's management and staff will hold a 24 percent interest in the company. The deal gives Edinburgh-based Wood Mackenzie, which produces research on the oil, gas, metals and power markets, a valuation of about 12.5 times projected earnings before interest, tax, depreciation and amortisation, according to one person familiar with the situation. Wood Mackenzie is projected to make EBITDA of 88 million pounds in 2012, rising to 100 million in 2013. Link this Share this Digg this Email Reprints

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