Prior notification of a concentration (Case M.10415 – Black Diamond/Specialty Chemicals International) Candidate case for simplified procedure (Text with EEA relevance) 2021/C 321/05
Date: 2021-08-10
Institutions: Directorate-General for Competition, European Commission
Subjects: chemical industry, economic concentration, holding company, investment company, merger control, special chemicals








C_2021321EN.01000601.xml










10.8.2021   


EN


Official Journal of the European Union


C 321/6






Prior notification of a concentration
(Case M.10415 – Black Diamond/Specialty Chemicals International)
Candidate case for simplified procedure
(Text with EEA relevance)
(2021/C 321/05)

1.   
On 2 August 2021, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Black Diamond Capital Management L.L.C. (‘Black Diamond’, US),










—


Specialty Chemicals International B.V. (‘Specialty Chemicals’, the Netherlands), jointly controlled by Investindustrial V L.P. (Luxembourg) and Black Diamond.




Black Diamond acquires within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of Specialty Chemicals.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are:






—


for Black Diamond: an investment advisory firm with a focus on four investment areas: (i) control distressed/private equity funds; (ii) hedge funds; (iii) a non-control stress/distressed closed end fund; and (iv) collateralised loan obligations. Black Diamond currently holds joint control over Specialty Chemicals,










—


for Specialty Chemicals: holding company for Polynt-Reichhold, active in the development, production and distribution of speciality chemicals and performance chemicals, specifically unsaturated polyester resin, chemical intermediates (anhydrides), related commodities (plasticisers), specialties (thermoset compounds), and resins for composites and coatings.






3.   
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.
Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under the Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.


4.   
The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.10415 – Black Diamond/Specialty Chemicals International
Observations can be sent to the Commission by email, by fax, or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Fax +32 22964301
Postal address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË







(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.