CELEX: 32018M9102
Language: en
Date: 2018-10-09 00:00:00
Title: Commission Decision of 09/10/2018 declaring a concentration to be compatible with the common market (Case No COMP/M.9102 - Carlyle European Partners IV / Investindustrial / B&B Italia) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 9.10.2018
                                                                C(2018) 6734 final
                                                                        PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9102 — Carlyle/Investindustrial/B&B Italia/Louis Poulsen/Flos
                Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC)
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                No 139/2004 and Article 57 of the Agreement on the European Economic Area
Dear Sir or Madam,
1.      On 14 September 2018, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which CEP IV Daisy
        S.à r.l., controlled by The Carlyle Group (together ‘Carlyle’, USA) and Investindustrial
        Vehicle, controlled by the Investindustrial Group (together ‘Investindustrial’, UK) acquire
        within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation joint
        control of the whole of B&B Italia S.p.A. (‘B&B Italia’, Italy), Louis Poulsen A/S (‘Louis
        Poulsen’, Denmark) and Flos S.p.A. (‘Flos’, Italy) by way of purchase of shares.3 B&B
        Italia, Louis Poulsen and Flos are currently solely controlled by Investindustrial.
2.      The business activities of the undertakings concerned are:
             for Carlyle: as a global alternative asset manager, managing funds that invest globally
              in buyout and growth capital, real estate, infrastructure and energy, structured credit,
              hedge funds, middle market debt and private equity,
             for Investindustrial: as a European group of investment, holding and financial advisory
              companies, investing in medium-sized companies active in sectors such as industrial
              manufacturing, retail, leisure and business services,
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 338, 21.9.2018, p. 28.
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 B&B Italia: the manufacture and distribution of designer furniture focusing on
        indoor and outdoor furniture for residential applications, including furniture for living
        rooms, bedrooms, kitchens, as well as light fixtures for indoor use,
       for Louis Poulsen: the manufacture and distribution of designer lighting solutions,
        including indoor and outdoor lighting products for consumer and professional use,
       for Flos: the manufacture and distribution of designer lighting solutions, including
        indoor and outdoor lighting products for consumer and professional use.
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(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)
                                                    Johannes LAITENBERGER
                                                    Director-General
4  OJ C 366, 14.12.2013, p. 5.
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