Wood Mackenzie LBO lacking new money potential

News that Charterhouse Capital is in exclusive talks to buy oil and gas consultant Wood Mackenzie from private equity firm Candover for about £550m failed to raise much enthusiasm in the leveraged loan market on Wednesday, despite it potentially being the biggest such buy-out in Europe this year. The deal is not expected to require much new money as much of the debt financing involved would derive from existing lenders to Wood Mackenzie rolling over their commitments.