CELEX: 32019M9425
Language: en
Date: 2019-07-30 00:00:00
Title: Commission Decision of 30/07/2019 declaring a concentration to be compatible with the common market (Case No COMP/M.9425 - Genstar Capital Partners LLC / TA Associates, L.P. / GS Topco LP) according to Council Regulation (EC) No 139/2004 (Only the English text is authentic)

EUROPEAN COMMISSION
                                                                Brussels, 30.7.2019
                                                                C(2019) 5851 final
                                                                                 PUBLIC VERSION
                                                                To the notifying parties
Subject:        Case M.9425 – GENSTAR CAPITAL PARTNERS / TA ASSOCIATES
                MANAGEMENT / INSIGHTSOFTWARE BUSINESS
                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
                Economic Area
Dear Sir or Madam,
1.      On 5 July 2019, the European Commission received notification of a proposed
        concentration pursuant to Article 4 of the Merger Regulation by which the
        undertakings Genstar Capital Partners, LLC (“Genstar”, United States) and TA
        Associates L.P. (“TA Associates”, United States), acquire within the meaning of
        Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control of the whole of
        the undertaking GS Topco LP (“Insightsoftware”, United States) by way of purchase
        of shares.2
2.      The business activities of the undertakings concerned are:
             for Genstar: investment fund focused on leveraged buyout transactions in
              middlemarket companies in the United States. Genstar invests primarily in the
              financial services, healthcare, industrial technology, and software sectors;
             for TA Associates: private equity group based in the United States and active in
              North America, Europe and Asia. TA Associates undertakes buyouts and minority
              recapitalisations of profitable growth companies;
             for Insightsoftware: financial reporting and enterprise performance software
              solutions to increase the efficiency of financial operations. Insightsoftware is
              controlled by TA Associates.
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       Publication in the Official Journal of the European Union No C 235, 12.07.2019, p. 6.
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--- 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(a) and 5(c) of the Commission Notice on a simplified procedure for
   treatment of certain concentrations under Council Regulation (EC) No 139/2004.3
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
3  OJ C 366, 14.12.2013, p. 5.
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