Global alternative asset manager The Carlyle Group has acquired The Sniffers, a Belgian provider of emission monitoring and related services to the global oil and gas industries, from majority owner Creafund. Creafund and The Sniffers’ management team will continue as minority owners.
Equity for the investment comes from Carlyle Europe Technology Partners II. Terms of the transaction, which closed on 21 December 2011, were not disclosed.
Founded in 1991, The Sniffers is one of the largest providers of fugitive emission monitoring outside the United States and has a premier market position in Europe and the Middle East. Fugitive emission monitoring is the detection of gas or vapour leaks from pressurized equipment during the oil refinery process. These leaks can be a significant proportion of total refinery emissions and generally occur through valves, pipe connections, mechanical seals and related equipment. The Sniffers has more than 200 customers in 20 countries. The Sniffers’ success is built on its proprietary analysis software.
Vladimir Lasocki, Managing Director of The Carlyle Group, says: “The Sniffers combines unique expertise and experience, strong market positions across Europe and the Middle East with a strong sustainable business model. We have been particularly impressed by the high quality of their service and the talent of their management team, and we look forward to supporting the continued growth of The Sniffers.”
Johan Heirbrandt, Partner at Creafund, says: “As the fugitive emission monitoring market shows great potential, we welcome Carlyle’s support of The Sniffers continued international expansion into new markets and broadening the company’s specialized services offering.”
Rudy Van Baelen, CEO of The Sniffers, says: “We are exceptionally proud of our performance over the past two decades. The Sniffers has trebled in size over the past four years thanks to a strategy focused on innovation and international expansion and its outstanding employees under the leadership of COO Hans Hooyberghs. We expect Carlyle’s global resources, international network and sector expertise will bring new opportunities, synergies and resources, which will help propel us forward as we continue to expand and enhance our service offering. This is a unique opportunity for us to continue our growth and expand into new markets.”
