Prior notification of a concentration (Case M.11603 – ADVENT / GENSTAR / PROMETHEUS GROUP) – Candidate case for simplified procedure
Date: 2024-07-24
Institutions: Directorate-General for Competition, European Commission
Subjects: cloud computing, economic concentration, investment company, merger control, software








C_202404685EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2024/4685


24.7.2024






Prior notification of a concentration
(Case M.11603 – ADVENT / GENSTAR / PROMETHEUS GROUP)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2024/4685)


1.   
On 15 July 2024, the Commission received notification of a proposed concentration pursuant to Article 4(1) of Council Regulation (EC) No 139/2004 (1).
This notification concerns the following undertakings:






—


Advent International, L.P. (‘Advent’, USA), controlled by AIC Parent, Inc. (USA),










—


Genstar Capital LLC (‘Genstar’, USA),




Advent and Genstar will acquire within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control of the whole of Mekone Parent LLC and its subsidiaries, including Prometheus Group Holdings, LLC (‘Prometheus Group’, USA), which is currently under the sole control of Genstar.
The concentration is accomplished by way of purchase of shares.


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






—


Advent is a globally active private equity investor that focuses in various sectors, including healthcare, industrial, technology, retail, consumer and leisure, and business and financial services. Advent invests in companies with proven track records with stable prospects for mid-to-longer term growth,










—


Genstar is a globally active private equity investor specialising in investments in four sectors: financial services, healthcare, industrial technology, and software. Genstar invests growth-oriented software businesses.






3.   
The business activity of the undertaking Prometheus Group is the following:






—


Prometheus Group is a globally active firm that supplies software solutions which provides a cloud-based enterprise asset management system that incorporates nine interconnected modules including: planning and scheduling; environmental health and safety; mobility; reporting and analytics; master data; shutdown, turnaround and outage; contractor management; project and portfolio management; and asset performance management.






4.   
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.


5.   
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.11603 – ADVENT / GENSTAR / PROMETHEUS GROUP
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/2024/4685/oj
ISSN 1977-091X (electronic edition)