Tue, 13 Mar 2012 | BUSINESS SALE
Charterhouse is considering a sale of long-established Edinburgh-based stockbroker Wood Mackenzie.
Wood Mackenzie is one of Scotland’s oldest firms, and could bring in £1 billion and a large profit for its private equity owners.
Charterhouse - described as ‘a notoriously secretive and wealthy private equity group’ by The Telegraph - has requested that Quayle Munro, a boutique investment firm, assist with a “low key” review of the business after it received expressions of interest from US trade buyers.
Wood Mackenzie was founded in the 1840s, and has had both Sir George Mathewson and Gerry Grimstone act as chairman over the past few years. Charterhouse bought Wood Mackenzie for £553 million from buy-out company Candover in 2004.
Charterhouse has been able to pay off about £150 million of the £420 million it borrowed to purchase the firm. Wood Mackenzie’s rapid growth – it reported revenues of £56.4 million before EBITDA in December 2010, up from £5.6 million in 2004 - has been put down to the rise in importance of proprietary data in the oil and gas sector.
It is thought the potential sale of the firm would be of particular interest to US businesses including McGraw Hill and IHS.
This financial advisory firm has an infrastructure in place to carry on operating profitably post-sale.
Hertfordshire based IFA with 75% of the business' assets with two major platforms, ensuring a smooth transition post-sale.
This firm has an average portfolio size per household above £0.5m, meaning you will be servicing high quality, profitable clients.
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