Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER  REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229 -91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 23.10.2019  
C(2019 ) 7722 final  
PUBLIC VERSION  
To the notifying party  
Subject : Case M.9556  – TRITON / GRUPO FERTIBERIA  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No 139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 26 September 2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4  of the Merger  Regulation by which the 
undertakings  Triton Managers V Limited, Triton Fund V GP S.à r.l. and TFF V 
Limited  (together Triton Fund V) , belonging to a group of independent investment 
funds managed by the Triton group (Channel Islands)  acquire within the meaning of 
Article 3(1)(b ) and Article 3 (4) of the Merger Regulation joint control over Fertiberia, 
S.A, and its subsidiaries (together ‘Grupo Fertiberia’, Spain) , currently controlled by 
Grupo Villar Mir, S.A.U (Spain) , by way of purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 Triton Fund  V is an  investment firm dedicated to investing primarily in medium 
sized businesses headquartered in Northern Europe, with particular focus on 
businesses in three core sectors, namely Business Services, Industrials and 
Consumer/H ealth;  
 Grupo Fertiberia is active mainly in Europe in the production of traditional and 
special fertilisers for extensive dry land crops, traditional irrigation and drip 
irrigation as well as industrial chemical products, used as raw chemicals for large 
industrial companies active in several industries such as chemical, wood, 
cosmetic or automotive.  
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( the ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union ’ and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 332, 3.10.2019 , p. 16. 

2 3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5 (b) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations  under Council Regulation (EC) No 139/2004 .4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decid ed not to oppose the notified operation and to declare it 
compatible with the internal market and with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commi ssion  
 
 
(Signed)  
Cecilio MADERO VILLAREJO  
Acting Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .