CELEX: 32016M8139
Language: en
Date: 2016-08-16 00:00:00
Title: Commission Decision of 16/08/2016 declaring a concentration to be compatible with the common market (Case No COMP/M.8139 - ONEX / PAINE & PARTNERS / WIRECO) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

|[pic]                             |EUROPEAN COMMISSION                                                                                      |

                                        Brussels, 16.8.2016
                                        C(2016) 5404 final

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                                        |                                                                       |To the notifying parties:                                              |

Dear Sirs,

Subject:    Case M.8139 –ONEX / PAINE & PARTNERS / WIRECO
         Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004[1] and Article 57 of the Agreement on the
         European Economic Area[2]

 1. On 22 July 2016, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by
    which the undertakings Onex Corporation ('Onex', Canada), and Paine & Partners LLC ('Paine', USA) acquire  within  the  meaning  of  Article
    3(1)(b) of the Merger Regulation joint control by way of purchase of shares in the joint venture WireCo Worldgroup (Cayman) Inc., ('WireCo',
    USA).[3]

 2. The business activities of the undertakings concerned are:

      – for Onex, investment in companies through private equity funds. Companies  currently  controlled  by  private  equity  funds  managed  by
        affiliates of Onex are active in a number of industry sectors including electronics manufacturing services,  healthcare  imaging,  health
        and services, aerospace automation, tooling and components, aircraft leasing and management, business  services/tradeshows,  restaurants,
        hospital management services and survival equipment. In addition, Onex has investments in real estate, credit strategies  and  mid-market
        private equity opportunities.

      – for Paine, a private equity firm that focusses on management buyouts and growth capital investments. Paine manages investments on  behalf
        of leading global financial institutions and investors with a focus on the food and agribusiness industries.

      – for WireCo, global manufacturer of highly-engineered and general purpose wires, steel wire and  synthetic  ropes  (and  related  hardware
        products), electromechanical cable and highly engineered cable structures, based in the USA.

 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)
                                        Johannes LAITENBERGER
                                        Director-General

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[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 278, 30.7.2016, p. 51.
[4]   OJ C 366, 14.12.2013, p. 5.

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                                                                  PUBLIC VERSION

                                                           SIMPLIFIED MERGER PROCEDURE