Prior notification of a concentration (Case M.11427 – AURELIUS / DAYCO’S PROPULSION SOLUTIONS) – Candidate case for simplified procedure
Date: 2024-01-24
Institutions: Directorate-General for Competition, European Commission
Subjects: economic concentration, energy-generating product, industrial research, investment company, merger control, vehicle parts








C_202401051EN.000101.fmx.xml












Official Journal of the European Union


EN
Series C













C/2024/1051


24.1.2024






Prior notification of a concentration
(Case M.11427 – AURELIUS / DAYCO’S PROPULSION SOLUTIONS)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/1051)


1.   
On 15 January 2024, 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:






—


Aurelius Investment Lux One S.à r.l. (‘Aurelius Investment’, Luxembourg), part of the Aurelius Group,










—


Dayco Products LLC (‘Dayco Products’, U.S.), part of the Dayco Group,










—


Propulsion Solutions S.r.l. (‘Dayco Solutions’, Italy), part of the Dayco Group,










—


Dayco Poland Sp. z.o.o. (‘Dayco Poland’, Poland), part of the Dayco Group,










—


Dayco (Suzhou) Propulsion Systems Co. Ltd (‘Dayco Suzhou’, China), part of the Dayco Group.




Aurelius Investment will acquire within the meaning of Article 3(1)(b) of the Merger Regulation control of the whole of Dayco Products, Dayco Solutions, Dayco Poland, and Dayco Suzhou which, together, constitute the Dayco’s Propulsion Solutions business.
The concentration is accomplished by way of purchase of shares and assets.


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






—


Aurelius Group is a private equity investment company and an asset manager holding various portfolio companies active in industry, chemistry, retail, business services, media and IT and airline catering.










—


Dayco Products, Dayco Solutions, Dayco Poland, and Dayco Suzhou constitute the Dayco’s Propulsion Solutions business and are active in the development, manufacture and sale of power transmission products as parts of front-end accessory drive components, timing components and hybrid modules as power train components essential for vehicle and engine operation to Original Equipment Manufacturers (‘OEM’) and suppliers to OEM.






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 treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (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.11427 – AURELIUS / DAYCO’S PROPULSION SOLUTIONS
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
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 160, 5.5.2023, p. 1.


ELI: http://data.europa.eu/eli/C/2024/1051/oj
ISSN 1977-091X (electronic edition)