Prior notification of a concentration (Case M.10741 – HG / EFMS / TA / IFS) Candidate case for simplified procedure (Text with EEA relevance) 2022/C 219/02
Date: 2022-06-03
Institutions: Directorate-General for Competition, European Commission
Subjects: cloud computing, economic concentration, investment company, merger control, software








C_2022219EN.01000201.xml










3.6.2022   


EN


Official Journal of the European Union


C 219/2






Prior notification of a concentration
(Case M.10741 – HG / EFMS / TA / IFS)
Candidate case for simplified procedure
(Text with EEA relevance)
(2022/C 219/02)

1.   
On 30 May 2022, 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:






—


HgCapital LLP (‘Hg’, United Kingdom),










—


TA Associates Management LP (‘TA’, United States),










—


EQT Fund Management S.à r.l (‘EFMS’, Luxembourg),










—


Impala Bidco S.à r.l. (‘IFS’, Luxembourg), currently controlled by EFMS and TA.




Hg, TA, and EFMS will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of IFS.
The concentration is accomplished by way of purchase of shares.


2.   
The business activities of the undertakings concerned are the following:






—


Hg is a specialist private equity investor that looks to grow sustainable software and services businesses. Hg focuses on investments in Europe, UK and the United States and has investment offices in London, Munich and New York.










—


EFMS is the alternative investment fund manager of EQT VIII and EQT IX, private investment funds forming part of the EQT group of investment funds (‘EQT’). EQT is a purpose-driven global investment organization focused on active ownership strategies.










—


TA is a private equity firm focused on targeted sectors within technology, healthcare, financial services, consumer and business services in North America, Europe and Asia.










—


IFS is currently a portfolio company of EFMS and TA and develops business software for customers active in a range of industry sectors, which manufacture and distribute goods, maintain assets and manage service-focused operations. IFS also provides cloud-based Software-as-a-Service solutions for the field service, last mile delivery and logistics industries.






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 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.10741 – HG / EFMS / TA / IFS
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.