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CVC / FIDELIO / ODEVO
M.11735
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 4
Description of the concentration
This notification concerns the proposed acquisition of joint control over Odevo MidCo AB (Odevo) by (i) funds or vehicles advised or managed by affiliates of CVC Capital Partners Plc (CVC) and (ii) Fidelio Capital (Fidelio) within in the meaning of Article 3(1), point (b) and Article 3(4) of the Merger Regulation. Odevo is currently solely controlled by Fidelio. The concentration is to be accomplished by way of a purchase of shares.
The primary business activities of the undertakings concerned by the notified concentration are as follows:
a) CVC is part of the CVC Network, which is a global alternative investment manager focussed on private equity, credit, secondaries and infrastructure, consisting of CVC and each of its subsidiaries from time to time. CVC is a public limited company whose shares are listed and admitted to trading on the Euronext Amsterdam Stock Exchange. CVC’s country of origin is Jersey.
b) Fidelio is a Swedish investment company, headquartered in Stockholm, investing in growth companies primarily in the Nordics, Europe and the US. Fidelio’s country of origin is Sweden.
c) Odevo is a provider of property management services, mainly in Finland, Sweden, the United Kingdom and the United States. It offers property management services (e.g. bookkeeping, asset / customer management and ongoing property maintenance) as well as financial management services (e.g. customer funds management / payment administration, loan procurement, insurance marketing and debt collection), through an integrated software platform. Odevo’s country of origin is Sweden.
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