Prior notification of a concentration (Case M.10817 – ADVENT / DEM BUSINESS / HPM BUSINESS) (Text with EEA relevance) 2022/C 458/08
Date: 2022-12-01
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, intermediate goods, investment company, merger control, plastics industry, special polymer








C_2022458EN.01001101.xml










1.12.2022   


EN


Official Journal of the European Union


C 458/11






Prior notification of a concentration
(Case M.10817 – ADVENT / DEM BUSINESS / HPM BUSINESS)
(Text with EEA relevance)
(2022/C 458/08)

1.   
On 24 November 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:






—


Advent Funds managed or advised by Advent International Corporation (‘AIC’, together with Advent Funds referred to as ‘Advent’, United States),










—


High performance materials business (‘HPM’) of Lanxess AG (‘Lanxess’, Germany),










—


Engineering materials business (‘DEM’) of Koninklijke DSM N.V.’s (‘DSM’, the Netherlands).




Advent will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole HPM and DEM.
The concentration is accomplished by way of purchase of shares.


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






—


Advent is a private equity investor based in Boston with a focus on: (i) the acquisition of equity stakes (both controlling and non-controlling) in companies where it believes that the injection of capital would improve the company’s future prospects for growth; and (ii) the management of investment funds. As a private equity investor, Advent holds shares in various sectors, including media, communications, information technology, internet, chemicals, pharmaceuticals etc.,










—


HPM engages in the manufacture, sale and marketing of thermoplastic polymers and intermediates necessary for the production of such polymers, i.e. polyamide-based engineering plastics, polybutylene terephthalate-based engineering plastics, and continuous fibre-reinforced thermoplastic composites, conducted currently by a group of companies, all of which are directly or indirectly owned subsidiaries and participations of Lanxess. HPM has ten manufacturing sites worldwide across six countries,










—


DSM consists of: (i) the entities DSM Engineering Materials B.V., DSM Engineering Materials International B.V. and DSM Engineering Materials, Inc.; (ii) their subsidiaries; and (iii) associated activities and IP rights. DEM develops, produces and globally supplies thermoplastics, offering a broad range of polymers, incl. polyamides, polyesters and polyphenylene sulphides to a wide range of industries. DEM has ten manufacturing sites worldwide across five countries.






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.



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.10817 – ADVENT / DEM BUSINESS / HPM BUSINESS
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’).