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, 08.05.2019  
C(2019 ) 3653 final  
PUBLIC VERSION  
To the notifying parties  
Subject : Case M.9335 - TRITON / LUXINVA / IFCO SYSTEMS   
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 9 April 2019 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  Triton Managers V 
Limited  (Jersey) , Triton Fund V GP S.à r.l.  (Luxembourg) , Triton Fund V F&F No. 3 
General Partner Limited (Jersey) and TFF V Limited ( Jersey) (together referred to as 
“Triton Fund V” ) and Luxinva S.A. (“Luxinva”, Luxembourg)  acquire  within the meaning 
of Article 3(1)(b) of the Merger Regulation  joint control of the IFCO  Systems B.V. (“IFCO 
Group”, the Netherlands)  by way of  purchase of shares .3 
2. The business activities of the undertakings concerned are:  
 — for Triton Fund V : belongs to a group of independent European private equity 
funds managed and advised by the Triton group ( collectively “Triton ”, Channel 
Islands ). The private equity funds managed by the Triton group, including Triton 
Fund V, are dedicated to investing primarily in medium -sized businesses 
headquartered in Northern Europe, with particular  focus on businesses in three 
core sectors: Business Services, I ndustrials and Consumer/Health;  
 — for Luxinva : an indirect, wholly -owned subsidiary  of the Abu Dhabi Investment 
Authority (“ADIA”) and owns private equity investments. ADIA is a government 
entity owned by the Emirate of Abu Dhabi. It invests fund s allocated to it by the 
govern ment of Abu Dhabi and manages a global investment portfolio th at is 
diversifie d across multiple asset classes;  
                                                 
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 ( '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 140, 16.04.2019 , p.14. 

2  — for t he IFCO Group : active in the food transportation packaging sector. It 
provides pooled reusable plastic containers (“RPCs”) that are primarily used to 
transport fresh food products (including fruits, vegetables, meat and  poultry, 
seafood, eggs and bak ery goods) from growers or manufacturers to grocery 
retailers. The IFCO Group also provides management services in relation to its 
RPCs ranging from delivering clean containers to producers, collecting the m from 
retailers, to cleaning and sanitizing them for re -use. 
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 decided not to oppose the noti fied 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 Commission  
 
 
(Signed)  
Johannes LAITENBERGER  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5 .