CELEX: 32021M10256
Language: en
Date: 2021-06-16 00:00:00
Title: Commission Decision of 16/06/2021 declaring a concentration to be compatible with the common market (Case No COMP/M.10256 - I SQUARED CAPITAL / TDR CAPITAL / AGGREKO) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 16.6.2021
                                                                C(2021) 4514 final
                                                                                 PUBLIC VERSION
                                                                I Squared Capital Advisors LLC
                                                                600 Brickell Ave Penthouse
                                                                FL 33131, Miami
                                                                United States
                                                                TDR Capital LLP
                                                                20 Bentinck Street
                                                                Wl U 2EU, London
                                                                United Kingdom
Subject:        Case M.10256 – I SQUARED CAPITAL / TDR CAPITAL / AGGREKO
                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 19 May 2021, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings I Squared Capital Advisors LLC (United States), and TDR Capital LLP
        (United Kingdom) acquire within the meaning of Article 3(1)(b) of the Merger
        Regulation indirect joint control over the whole of the undertaking Aggreko plc
        (United Kingdom) by way of purchase of shares.3
2.      The business activities of the undertakings concerned are:
          —        for I Squared Capital: global infrastructure investment manager focusing on
                   sectors such as energy, utilities, telecom, healthcare and transport in North
                   America, Europe and other economies around the world.
          —        for TDR Capital: private equity firm investing in a variety of sectors
                   including motor fuels retail, gyms and health clubs, car washes, vacant
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 201, 28.5.2021, p. 13.
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---              property services, modular construction, pubs and restaurants, and social
             housing refurbishment services, in particular in the UK.
     —       for Aggreko: company active in the rental of generators and related power
             equipment, and temperature control equipment on a temporary basis, as well
             as the provision of associated services to customers around the world across
             a range of sectors, including oil and gas, events, manufacturing and mining,
             building services and construction.
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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