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

CourtCompetition and Consumer Protection Commission (Ireland)
PartiesJPMP Capital,IMO
Date23 January 2004
StatusCleared (Phase 1)
Decision Date23 January 2004
Decision NumberM/03/046
Determination of the Competition Authority
Determination No. M/04/046 of the Competition Authority, dated January 24,
Notification No. M/03/046 – Proposed acquisition by JPMP Capital Corp. of
IMO Car Wash Group Limited
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.
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.
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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