Antitrust Law Daily Wrap Up, ACQUISITIONS & MERGERS NEWS: EC approves acquisition of WFS Global Holding by Platinum Equity Group, (Jul 10, 2015)
Organizations Mentioned:Ardian France S.A. | Goldentree Asset Management LP | KKR & Co. LP | KKR & Co., LP | Maxeda DIY Group | Platinum Equity Group | Ursa Insulation Holding BV | WFS Global Holding
By Linda O’Brien, J.D., LL.M.
The European Commission (EC) has cleared under the European Union (EU) merger regulation the acquisition of WFS Global Holding of France by Platinum Equity Group of the United States, the EC announced today. The transaction was examined under the simplified merger review procedure.
WFS provides airport cargo as well as ramp and passenger handling services in various airports within the European Economic Area (EEA). Platinum is a private equity firm focused on acquiring and operating companies in a broad range of businesses, such as information technology, telecommunications, logistics, metal services, manufacturing and distribution. The Commission concluded that the proposed acquisition would raise no competition concerns, in particular because the companies are not active in the same markets.
Ursa acquisition. The EC also approved under the EU merger regulation the acquisition of Ursa Insulation Holding BV of Spain by investment company KKR & Co. LP. of the United States. Ursa provides insulation materials, such as glass mineral wool and extruded polystyrene. The EC concluded that the proposed acquisition would not raise competition concerns because none of the KKR portfolio companies is active in insulation materials, or is an actual or potential customer or supplier for Ursa.
Maxeda acquisition. The acquisition of Maxeda DIY Group of the Netherlands by Ardian France S.A. of France and Goldentree Asset Management LP (GTAM) of the United States has been approved by the EC under the EU merger regulation. Ardian and GTAM are private equity investment firms. Maxeda is active in the sale of various construction and home improvement products through do-it-yourself retail stores. The Commission concluded that the proposed transaction would raise no competition concerns as there are no overlaps between the companies' activities in the EEA.
Companies: WFS Global Holding; Platinum Equity Group; Ursa Insulation Holding BV; KKR & Co. LP; Maxeda DIY Group; Ardian France S.A.; Goldentree Asset Management LP
News: AcquisitionsMergers Antitrust