CELEX: 32021M10267
Language: en
Date: 2021-06-01 00:00:00
Title: Commission Decision of 01/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10267 - HELLMAN & FRIEDMAN / GENSTAR / ENVERUS) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 1.6.2021
                                                                C(2021) 4077 final
                                                                                 PUBLIC VERSION
                                                                Hellman & Friedman LLC
                                                                415 Mission Street, Suite 5700
                                                                San Francisco, CA 94105
                                                                United States of America
                                                                Genstar Capital Partners, LLC
                                                                Four Embarcadero Avenue, Suite 1900
                                                                San Francisco, CA 94111
                                                                United States of America
Subject:        Case M.10267 – HELLMAN & FRIEDMAN / GENSTAR / ENVERUS
                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 5 May 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Hellman &
        Friedman LLC (‘Hellman & Friedman’, United States of America) and Genstar
        Capital Partners, LLC (‘Genstar’, United States of America) intend to acquire, within
        the meaning of Articles 3(1)(b) and 3(4) of the Merger Regulation, joint control of the
        whole of Titan DI Holdings, Inc., the holding company of the Enverus group
        (‘Enverus’ or the ‘JV’, United States of America), which is currently controlled by
        Genstar. The concentration is accomplished by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
              for Hellman & Friedman: private equity firm with investments in a variety of
                 sectors worldwide, focused on market-leading firms with growth potential,
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 (the ‘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 184, 12.5.2021, p. 17.
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---         for Genstar: private equity firm specializing in investments in middle market
           companies in financial services, healthcare, industrial technology and software
           industries, and
        for Enverus: a software-as-a-service (“SaaS”) provider of business-critical
           insights to the energy, power, and commodities industries, whose SaaS
           solutions are focused on upstream, midstream and downstream markets,
           empowering exploration and production, oilfield services, midstream, utilities,
           trading and risk, and capital markets companies to be more collaborative,
           efficient, and competitive.
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
   paragraphs 5(a) and 5(b) 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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