Prior notification of a concentration (Case M.12243 – FIVE ARROWS / DBAG / TOTALMOBILE) – Candidate case for simplified procedure
Date: 2026-01-13
Institutions: Directorate-General for Competition, European Commission
Subjects: United Kingdom, consultancy, economic concentration, investment company, merger control, provision of services, software








C_202600250EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2026/250


13.1.2026






Prior notification of a concentration
(Case M.12243 – FIVE ARROWS / DBAG / TOTALMOBILE)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/250)


1.   
On 23 December 2025, 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:






—


Five Arrows Principal Investments IV Funds (‘Five Arrows’, Luxembourg), controlled by Rothschild & Co SCA (France),










—


Lighthouse Holding Sàrl (‘Lighthouse’, Luxembourg), controlled by Deutsche Beteiligungs AG (‘DBAG’, Germany),










—


Mobilise (Topco) Limited (Jersey), holding company of Totalmobile Group (together ‘Totalmobile’).




Five Arrows and DBAG will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Totalmobile.
The concentration is accomplished by way of purchase of shares.


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






—


Five Arrows provides investment management services to a range of private equity and private debt vehicles, as part of Rothschild & Co’s Five Arrows division, which offers products to private and institutional investors wishing to invest in the private equity markets,










—


Lighthouse is a pooling vehicle of funds controlled by DBAG, a listed private equity company with its seat in Frankfurt am Main, Germany. DBAG initiates and advises investment funds and co-invests alongside these investment funds. Its focus is on mid-sized companies in the DACH region,










—


Totalmobile offers end-to-end field service management (‘FSM’) software for service providers. It has around 400 employees across the United Kingdom, Ireland, Australia and the Nordics, but its business focus is the United Kingdom where it generated the majority of its turnover in 2024.






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 concentration 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.12243 – FIVE ARROWS / DBAG / TOTALMOBILE
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/2026/250/oj
ISSN 1977-091X (electronic edition)