Hellman & Friedman in Wood Mackenzie dividend recap

Amy King
16 August 2013

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Hellman & Friedman has secured a dividend recap for UK-based consultancy Wood Mackenzie, according to reports.

The San Francisco-based company is understood to have turned to the debt markets to secure a £135m term-C loan to pay itself a dividend.

The GP bought the firm from Charterhouse in 2012 in a transaction that valued the company at £1.1bn. Hellman acquired a 63% stake, with Charterhouse reinvesting to secure 13% of the firm's shareholding. The balance was retained by the management team and staff at Wood Mackenzie.

Lloyds TSB is understood to have led the debt syndicate on the 2012 transaction.

Wood Mackenzie was bought by Charterhouse from Candover for £553m in 2009. Candover reaped a 56% IRR on the transaction. HSBC, Nomura and the Lloyds Banking Group provided senior debt for the transaction. AXA Private Equity, GSC and Sankaty financed the deal with mezzanine debt.

The firm's history with private equity dates back to 2001, when The Bank of Scotland's Corporate Banking Integrated Finance team in Edinburgh supported the management buyout of the firm, in a deal worth £26m. The company, acquired from Deutsche Bank, was purchased with an integrated finance package combining senior debt, mezzanine and equity in return for a 30% stake of the newco's equity.

Edinburgh-based Wood Mackenzie was founded in 1973. It provides consultancy services to the energy and mining & metals industries. The company employs approximately 600 staff and operates 20 offices worldwide.