CELEX: 32021M10528
Language: en
Date: 2021-12-09 00:00:00
Title: Commission Decision of 09/12/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10528 - ADVENT / EURAZEO / PROTEL) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 9.12.2021
                                                                C(2021) 9387 final
                                                                                PUBLIC VERSION
                                                                Advent International Corporation
                                                                Prudential Tower,
                                                                800 Boylston Street, Suite 3300
                                                                MA 02199-8069 Boston
                                                                United States of America
                                                                Eurazeo SE
                                                                1, rue Georges Berger
                                                                F-75017 Paris
                                                                France
Subject:        Case M.10528 – ADVENT / EURAZEO / PROTEL
                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 12 November 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which Advent
        International Corporation (“Advent”, USA) and Eurazeo SE (“Eurazeo”, France)
        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 Protel hotelsoftware GmbH
        (“Protel”, Germany) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
        −     For Advent: Advent is a private equity investor focusing on: (i) the acquisition of
              equity stakes (both controlling and non-controlling) in companies where it
              believes that an injection of capital would improve the company’s future
              prospects for growth; and (ii) the management of investment funds. As a private
              equity investor, Advent has holdings in various sectors, including industrial,
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 467, 19.11.2021, p. 10.
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---        retail, media, communications, information technology, internet, healthcare and
       pharmaceuticals;
   −   for Eurazeo: Eurazeo is a listed investment company with a portfolio of several
       billions of euros in diversified assets. Its purpose is to detect, accelerate and
       enhance the potential transformation of companies of all sizes in which it invests.
       It has three main activities: private equity, private debt and real assets; and
   −   for Protel: Protel is a provider of property management system software to hotels,
       headquartered in Dortmund, Germany.
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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