CELEX: 32020M9640
Language: en
Date: 2020-01-27 00:00:00
Title: Commission Decision of 27/01/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9640 - BCP / CD&R FUND X / BRANDSAFWAY) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 27.01.2020
                                                                C(2020) 544 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9640 – BCP / CD&R FUND X / BRANDSAFWAY
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                                       1
                (EC) No 139/2004 and Article 57 of the Agreement on the European
                                    2
                Economic Area
Dear Sir or Madam,
1.      On 20 December 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 and following a referral pursuant to Article 4(5) of
        the Merger Regulation by which the undertakings BCP Acquisitions LLC (‘BCP’,
        USA), controlled by Brookfield Asset Management Inc. (‘Brookfield Asset
        Management’, USA), and Clayton, Dubilier & Rice Fund X, L.P. (‘CD&R Fund X’,
        USA) and affiliated funds, all of which are ultimately controlled by Clayton, Dubilier
        & Rice Investment Holding GP, Ltd. (‘CD&R’, USA), acquire within the meaning of
        Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control over the whole
        of the undertaking Brand Industrial Holdings, Inc. (‘BrandSafway’, USA), currently
        indirectly solely controlled by CD&R, by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
             − for BCP: a limited liability company controlled by Brookfield Assets
                 Management, a global asset manager,
             − for CD&R: a private equity investment firm which has investments in various
                 sectors of the economy,
             − for BrandSafway: a trade contractor providing specialised services to
                 industrial, commercial and infrastructure customers and operating across three
                 business units: scaffolding and access solutions, specialty industrial services,
                 and forming and shoring.
1       OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty on
        the Functioning of the European Union (‘TFEU’) has introduced certain changes, such as the
        replacement of ‘Community’ by ‘Union’ and ‘common market’ by ‘internal market’. The terminology
        of the TFEU will be used throughout this decision.
2       OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).
3       Publication in the Official Journal of the European Union No C 4, 8.1.2020, p. 9.
Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË
Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.
 ---pagebreak--- 3. After examination of the notification, the European Commission has concluded that
   the notified operation falls within the scope of the Merger Regulation and of
   paragraph 5(c) of the Commission Notice on a simplified procedure for treatment of
   certain concentrations under Council Regulation (EC) No 139/2004.4
4. For the reasons set out in the Notice on a simplified procedure, the European
   Commission has decided not to oppose the notified operation and to declare it
   compatible with the internal market and with the EEA Agreement. This decision is
   adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of
   the EEA Agreement.
                                                  For the Commission
                                                  (Signed)
                                                  Olivier GUERSENT
                                                  Director-General
4  OJ C 366, 14.12.2013, p. 5.
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