CELEX: 32022M10562
Language: en
Date: 2022-02-21 00:00:00
Title: Commission Decision of 21/02/2022 declaring a concentration to be compatible with the common market (Case No COMP/M.10562 - CARLYLE / WARBURG PINCUS / DURAVANT) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 21.2.2022
                                                                C(2022)1185 final
                                                                                 PUBLIC VERSION
                                                                The Carlyle Group, Inc.
                                                                One Vanderbilt Avenue
                                                                Suite 3400
                                                                New York, NY 10017
                                                                United States
                                                                Warburg Pincus LLC
                                                                450 Lexington Avenue
                                                                New York, NY 10017
                                                                United States
Subject:        Case M.10562 – CARLYLE / WARBURG PINCUS / DURAVANT
                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 27 January 2022, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings The Carlyle Group, Inc. (‘Carlyle’, United States) and Warburg Pincus
        LLC (‘Warburg Pincus’, United States) intend to acquire within the meaning of
        Articles 3(1)(b) and 3(4) of the Merger Regulation joint control of undertaking
        Duravant LLC (‘Duravant’, United States), controlled by Warburg Pincus, by way of
        purchase of a shareholding from Warburg Pincus, through a Unit Purchase
        Agreement.3
2.      The business activities of the undertakings concerned are:
         for Carlyle: as a global alternative asset manager, managing funds that invest
             globally across three investment disciplines: (i) Global Private Equity (including
             corporate private equity, real estate and natural resources funds); (ii) Global Credit
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 62, 4.2.2022, p. 14.
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---        (including liquid credit, illiquid credit and real assets credit); and (iii) Investment
       Solutions (private equity fund of funds program, which include primary fund,
       secondary and related co-investment activities).
    for Warburg Pincus: as a global private equity firm, managing companies that are
       active in a variety of sectors, including consumer and industrial and business
       services.
    for Duravant: manufacturing and supplying processing and logistics equipment for
       companies active particularly in the food and beverage, and e-commerce and
       distribution sectors, and related aftermarket offerings (including parts, installation
       and maintenance).
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)
                                                     Olivier GUERSENT
                                                     Director-General
4  OJ C 366, 14.12.2013, p. 5.
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