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: 25/09/2023

In electronic form on the EUR-Lex website under document number 32023M11260

EUROPEAN COMMISSION

Brussels, 25.9.2023 C(2023) 6569 final

PUBLIC VERSION

Apax Partners LLP 33 Jermyn Street SW1Y6DN London United Kingdom

Fremman Partners Limited 11 Grosvenor Place SW1X 7HH London United Kingdom

Dear Sir or Madam,

1.1. On 1 September 2023, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which Apax Partners LLP (‘AP’, UK), and Fremman Partners Limited (‘Fremman’, UK), will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control over the whole of Chacrim Directorship, S.L. (the ‘Target’, Spain), currently solely controlled by Fremman, by way of purchase of shares.

2. The business activities of the undertakings concerned are the following:

-− AP is a limited liability partnership and the parent of a number of entities which provide investment advisory services to private equity funds investing in a range of industry sectors,

-− Fremman is a private equity firm active in the investment and management of companies in multiple sectors,

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 320, 11.9.2023, p. 9.

Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111

− The Target controls companies active in the distribution of medical supplies and devices mainly in Spain (Palex Group), Italy (Gada Group) and Portugal (LusoPalex).

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(d) 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

OJ C 160, 5.5.2023, p. 1–10.

2