CELEX: 32020M9816
Language: en
Date: 2020-05-06 00:00:00
Title: Commission Decision of 06/05/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9816 - ADVENT / TA / CONSERVICE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 06.05.2020
                                                                C(2020) 3069 final
                                                                                PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9816 - ADVENT / TA / CONSERVICE
                Commission decision pursuant to Article 6(1)(b) of Council Regulation
                (EC) No 139/20041 and Article 57 of the Agreement on the European
                Economic Area2
Dear Sir or Madam,
1.      On 07 April 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Advent International Corporation (“Advent”, USA) and TA Associates
        L.P. (“TA”, 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 Conservice
        LLC (“Conservice”, USA) controlled by TA, by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     for Advent: (i) the acquisition of equity stakes in companies, and (ii) the
              mangement of investment funds in various sectors including industrial retail,
              media, communications, information technology, internet, healthcare and
              pharmaceuticals.
        −     for TA: private equity investment activities in selected industries including
              business services, consumer, financial services, healthcare and technology.
        −    for Conservice: the provision of utility management and billing software to
             property owners, residents and utility providers in the USA and Canada.
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 124, 17.04.2020, p.23.
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(a) 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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