Merger Notification - Announcement according to § 10 Cartel Act
Nexus Bidco GmbH; Norres Holding GmbH
BWB/Z-6242
On 11.04.2023 the Austrian Federal Competition Authority was notified of the following merger:
Planned purchase process
Nexus BidCo GmbH, Schwanthaler Straße 73, SCUR24 Holding GmbH, 80336 Munich, registered in the commerical register of the Local Court of Munich under no. HRB281533 ("Nexus BidCo"), intends to acquire 100% of the shares in and sole control over NORRES Holding GmbH, a German limited liability company, with coroprate seat in Am Stadthafen 12-16. 45881 Gelsenkirchen, Germany, registered in the commercial register of the Local Court of Gelsenkirchen under no. HRB 14899 ("Norres"). Norres develops, manufactures, and distributes industrial hoses and flexible hose solutions and provides related serivces and products such as assembling couplings, clamps, and connectins on hoses. Neil LuxCo S.á r.l. ("Neil LuxCo") is currently the sole shareholders of Norres. Neil LuxCo is indirectly held by the limited partnerships comprising the private equity fund Triton Smaller Mid-cap Fund I L.P., which is part of a group of investement funds managed by the Triton Group. Nexus BidCo and Neil LuxCoentered into Share Purchase Agreement on 25 March 2023 (the "SPA") regarding the sale and transfer of the shareholding in the Target (the "Transaction"). According to the SPA inter alia - merger control clearance in Austria is a condition precedent to consummate the Transaction.
Industry sector: C - Verarbeitendes Gewerbe/Herstellung von Waren
Deadline for bringing in an application pursuant to § 11(1) Cartel Act will end on 09.05.2023.
Entrepreneurs whose legal or economic interests are affected by the merger can bring in a written statement at the Federal Competition Authority or the Federal Cartel Prosecutor within 14 days from publication date.
Note: The intervening party has no right to a certain treatment of the statement and will not gain a party position.
Non-prohibition of the merger
The Federal Competition Authority and the Federal Cartel Prosecutor have not applied for examination of the merger by the Cartel Court. The standstill obligation (§ 17 (1) Cartel Act) ends with effect from 10.05.2023 .