EUROPEAN COMMISSION DG Competition

Only the English text is available and authentic.

REGULATION (EC) No 139/2004 MERGER PROCEDURE

Article 6(1)(b) NON-OPPOSITION Date: 09/12/2021

In electronic form on the EUR-Lex website under document number 32021M10528

EUROPEAN COMMISSION

Brussels, 9.12.2021 C(2021) 9387 final

PUBLIC VERSION

Advent International Corporation Prudential Tower, 800 Boylston Street, Suite 3300 MA 02199-8069 Boston United States of America

Eurazeo SE 1, rue Georges Berger F-75017 Paris France

Dear Sir or Madam,

1.1. On 12 November 2021, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which Advent International Corporation (“Advent”, USA) and Eurazeo SE (“Eurazeo”, France) acquire within the meaning of Article 3(1)(b) and Article 3(4) of the Merger Regulation joint control over the whole of the undertaking Protel hotelsoftware GmbH (“Protel”, Germany) by way of purchase of shares.

2. The business activities of the undertakings concerned are:

− For Advent: Advent is a private equity investor focusing on: (i) the acquisition of equity stakes (both controlling and non-controlling) in companies where it believes that an injection of capital would improve the company’s future prospects for growth; and (ii) the management of investment funds. As a private equity investor, Advent has holdings in various sectors, including industrial,

1OJ 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.

2OJ L 1, 3.1.1994, p. 3 (the ‘EEA Agreement’).

3Publication in the Official Journal of the European Union No C 467, 19.11.2021, p. 10.

retail, media, communications, information technology, internet, healthcare and pharmaceuticals;

− for Eurazeo: Eurazeo is a listed investment company with a portfolio of several billions of euros in diversified assets. Its purpose is to detect, accelerate and enhance the potential transformation of companies of all sizes in which it invests. It has three main activities: private equity, private debt and real assets; and

− for Protel: Protel is a provider of property management system software to hotels, headquartered in Dortmund, Germany.

3.3. 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) Olivier GUERSENT Director-General

4OJ C 366, 14.12.2013, p. 5.

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