Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERG ER REGISTRY, 1049 Brussel,  BELGIË 
 Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION 
Brussels, 11.7.2018 
C(2018) 4701 final 
 
 
To the notifying party : 
 
 
Subject: Case M.8968 - HIG CAPITAL / IN EOS (BALEYCOURT BUSINESS & ICT 
BUSINESS) 
Commission decision pursuant to Articl e 6(1)(b) of Council Regulation (EC) 
No 139/20041 and Article 57 of the Agreemen t on the European Economic Area2  
Dear Sir or Madam, 
1. On 18 June 20018, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of th e Merger Regulation by which the undertaking 
H.I.G. Capital LLC ("H.I.G. Capital", US) through its portfolio company Valtris Specialty Chemicals Limited ("Valtris", UK) acquire within the meani ng of Article 3( 1)(b) of the 
Merger Regulation control ove r the whole of the undertakin gs INEOS Enterprises France 
SAS (France), INEOS Champlor SAS (France)  and certain assets held within INEOS 
Enterprises Group Limited (IEGL) (together  "the Baleycourt bus iness") and INEOS 
ChloroToluenes Limited ("the ICT business", UK) by way of purchase of shares and assets.
3 
2. The business activities of the undertakings concerned are: 
 – H.I.G. Capital is a global private equity and alternative asset investment firm. It is 
active, through its por tfolio company Valtris, in the production and supply of 
specialty chemicals, primarily polymer additives. 
 – The Baleycourt business is active in th e production and supply of biodiesel and 
edible oils and their by-products, an d esters, a type of plasticizer. 
                                                 
1 OJ L 24, 29.1.2004, p. 1 (the 'Mer ger Regulation'). With effect from  1 December 2009, the Treaty on the 
Functioning of the European Union ('TFEU') has intr oduced certain changes, su ch as the replacement of 
'Community' by 'Union' and 'common market' by 'interna l 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 220 , 25.06.2018, p. 9. 
PUBLIC VERSION 
2  
 – The ICT business is active in the pr oduction and supply of chlorinated toluene 
derivatives and related chemical intermediates. 
3. After examination of the notification, the Eu ropean Commission ha s concluded that the 
notified operation falls within the scope of the Merger Regulation and of paragraph 5(c)  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 simp lified procedure, the European Commission 
has decided not to oppose the notified operati on 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 Regulati on and Article 57 of the EEA Agreement. 
For the Commission 
(Signed) 
Johannes LAITENBERGER Director-General 
                                                 
4  OJ C 366, 14.12.2013, p. 5.