Candover, the ailing private equity group, has won breathing room in its liquidity crisis by agreeing to sell Wood Mackenzie, the energy research and consultancy group, to rival Charterhouse Capital Partners in a £553m deal.

The sale, mooted since Charterhouse started exclusive talks to buy Wood Mackenzie two weeks ago, is the UK’s biggest private equity deal of the year. Buy-out bosses hope it signals a revival of deal-making activity after a long dormant period.