Carlyle sells The Sniffers to trade

The addition of Sniffers expands WTS Energy's environmental and energy-saving services portfolio.

The sale ends a holding period of slightly less than six years for Carlyle, which acquired The Sniffers for an enterprise value of approximately €60m in December 2011.

WTS provides workforce management and recruitment services to the oil and gas industry. It employs 1,000 people globally.

Previous funding
Belgian growth investor Creafund led the first LBO of Sniffers in July 2006, acquiring a majority stake alongside management.

Carlyle drew equity from Carlyle Europe Technology Partners II to back the secondary buyout. The vehicle held a final close on €530m in October 2008 and was set up to target small and mid-sized companies in the technology sector. The fund was reporting a net IRR of 19% as of December 2017, according to Unquote Data.

Company
Sniffers is a Belgian service provider in the field of oil and gas emission monitoring. The firm concentrates on fugitive emission monitoring, which is the detection of gas or vapour leaks from pressurised equipment during the oil refinery process. The monitoring is facilitated by proprietary analysis software.

Sniffers has 200 customers in 20 countries and employs 90 people. It was founded in 1991 by Rudy van Baelen and is based in Balen, Belgium.

People
WTS Energy – Frederik Rengers (CEO).
The Sniffers – Bart Wauterickx (CEO).

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• Topics
• Exits
• Benelux
• Industrials
• Belgium
• Trade sale
• Carlyle Group