Veritas Petroleum Services B.V.
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Veritas Petroleum Services B.V. - overview
Established
1981
Location
Rotterdam, -, Netherlands
Primary Industry
Oil & Gas
About
Founded in 1981 and based in Rotterdam, Netherlands, DNV Petroleum Service Inc. , which was renamed Veritas Petroleum Services BV, in 2014, operates as a business support service company that offers fuel quality testing, bunker quantity surveys, oil condition monitoring, and many more. In October 2013, IK Investment Partners acquired Veritas Petroleum Services BV. from Det Norske Veritas AS.
In June 2021, Fremman Capital acquired a majority stake in Veritas Petroleum Services B. V. from IK Investment Partners. As of 2024, the company is led by its CEO, Malcolm Cooper.
The company offers testing and inspection solutions to aid clients in achieving measurable improvements to fuel management, fuel cost, operational efficiency, and compliance with marine fuel regulatory requirements.
Current Investors
Souter Investments, Fremman Capital
Primary Industry
Oil & Gas
Sub Industries
Consulting Services, Oil & Gas Equipment and Services
Website
www.v-p-s.com/
Company Stage
Mature
Total Amount Raised
Subscriber access only
Veritas Petroleum Services B.V. - financials
| Fiscal Year Ended | Dec 31, 2013 | Dec 31, 2014 | Dec 31, 2015 | Dec 31, 2016 | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 8,345,524 | 52,049,000 | 52,107,000 | 48,250,000 | 47,424,000 | 52,058,000 | 55,876,000 | - | - | - |
| % Revenue Growth (YoY) | - | 523.7% | 0.1% | (7.4%) | (1.7%) | 9.8% | 7.3% | - | - | - |
| EBITDA (USD) | (4,042,740) | 10,051,000 | 13,035,000 | 10,232,000 | 12,082,000 | 12,641,000 | 18,137,000 | - | - | - |
| Operating Income (USD) | (4,896,078) | 4,728,000 | 7,376,000 | 3,986,000 | 5,970,000 | 6,760,000 | 11,279,000 | - | - | - |
| Operating Margin | (58.7%) | 9.1% | 14.2% | 8.3% | 12.6% | 13.0% | 20.2% | - | - | - |
| % EBITDA Margin | (48.4%) | 19.3% | 25.0% | 21.2% | 25.5% | 24.3% | 32.5% | - | - | - |
| NET Income (USD) | (9,138,910) | (2,176,000) | 404,000 | (2,353,000) | (316,000) | (3,342,000) | 383,000 | - | - | - |
| % Net Margin | (109.5%) | (4.2%) | 0.8% | (4.9%) | (0.7%) | (6.4%) | 0.7% | - | - | - |
Veritas Petroleum Services B.V. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Completed | Veritas Petroleum Services B.V. | - | ||||||||
| Private Debt | Completed | Veritas Petroleum Services B.V. | - | ||||||||
| Buyout | Completed | Veritas Petroleum Services B.V. | - |
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