Decision Nº M/03/046 from Competition and Consumer Protection Commission, 2004-01-23

• Jurisdiction: Ireland
• Parties: JPMP Capital,IMO
• Date: 23 January 2004
• Decision Date: 23 January 2004
• Status: Cleared (Phase 1)
• Court: Competition and Consumer Protection Commission (Ireland)
• Decision Number: M/03/046

Determination of the Competition Authority

Determination No. M/04/046 of the Competition Authority, dated January 24,

2004, under Section 21 of the Competition Act, 2002

Notification No. M/03/046 – Proposed acquisition by JPMP Capital Corp. of

IMO Car Wash Group Limited

Introduction

1. On 24th December, 2004, the Competition Authority, in accordance with Section

18 (1) of the Competition Act, 2002 (“the Act”) was notified, on a mandatory

basis, of a proposal whereby JPMP Capital Corp. (“JPMPCC”) would acquire

sole control of IMO Car Wash Group Limited (“IMO”).

The Parties

2. JPMPCC is a wholly owned subsidiary of JP Morgan Chase & Co. (JP Morgan),

a US registered entity which provides a broad range of financial services on a

world-wide basis. JPMPCC is part of JP Morgan’s private equity organisation,

which focuses on building a diversified portfolio of investments. It invests

globally in a broad range of industries including, inter alia, life sciences,

telecommunications, industrial, financial services and media. JP Morgan carries

on business in Ireland through the activities of J.P. Morgan Bank (Ireland) plc

and its subsidiaries.

3. IMO Car Wash Group Limited (IMO) is a UK registered company operating

fully automated conveyor car washing facilities. It is active in the UK and other

European countries.

Analysis

4. IMO does not carry on business in the State. It operates conveyor car wash

facilities in Northern Ireland. Neither JPMPCC, nor indeed JP Morgan itself,

controls any business offering car wash services in the State or elsewhere.

Accordingly, there is no overlap in the activities of the parties and the transaction

does not raise competition concerns.

Determination

The Competition Authority, in accordance with Section 21(2) of the Competition Act,

2002, has determined that, in its opinion, the result of the proposed acquisition will

not be to substantially lessen competition in markets for goods and services in the

State and, accordingly, that the acquisition may be put into effect.

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