CELEX: 32020M9869
Language: en
Date: 2020-07-06 00:00:00
Title: Commission Decision of 06/07/2020 declaring a concentration to be compatible with the common market (Case No COMP/M.9869 - EQT FUND MANAGEMENT / TOWERBROOK CAPITAL PARTNERS / ACPS AUTOMOTIVE) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 06.07.2020
                                                                C(2020) 4669 final
                                                                                PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9869 – EQT Fund Management/TowerBrook Capital
                Partners/ACPS Automotive
                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 12 June 2020, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings EQT Mid Market Credit and EQT Mid Market Credit II (“EQT Acquirer
        Funds”), controlled by EQT Fund Management S.à r.l. (“EFMS”, Luxembourg) and
        TowerBrook Capital Partners, L.P. (“TowerBrook”, USA) acquire within the meaning
        of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of
        the undertaking Hitched Holdings 1 B.V. (“ACPS”, the Netherlands) by way of
        purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     The EQT Acquirer Funds seek to provide flexible, long-term debt capital
              solutions to medium-sized European businesses, across a wide range of sectors.
              One of EQT’s portfolio companies is kfzteile24, an online retailer of auto parts
              and accessories in the IAM channel, principally operating in Germany,
        −    TowerBrook is an investment management firm. It is based in Europe and the
             USA and focuses on making investments in large and middle market European
             and North American companies,
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 208, 22.06.2020, p. 2.
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---    −    ACPS is a global manufacturer and supplier of automotive equipment and
        accessories. In particular, ACPS specialises in the manufacturing and sale of tow
        bars and trailer hitches as well as load carrying system.
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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