Decision Nº M/04/067 from Competition and Consumer Protection Commission, 2004-11-17

• Jurisdiction: Ireland
• Decision Date: 17 November 2004
• Date: 17 November 2004
• Decision Number: M/04/067
• Parties: TPG IV,TPG III,T3 II
• Court: Commissioner for Environmental Information

1

Determination No. M/04/067 of the Competition Authority, 17

December 2004, under Section 21 of the Competition Act, 2002.

Notification No. M/04/067- TPG IV, TPG III, T3 II/Celerity

Introduction

1. On the 22nd of November 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

investment funds TPG IV, TPG III, and T3 II would acquire the assets

of Celerity Group, Inc. (“Celerity Group”), Kinetics Chempure

Systems, Inc. (“KCS”) and FTS Systems (“FTS”).

The Parties

2. TPG IV, TPG III, and T3 II (“the acquirers”) have formed an

acquisition vehicle, Celerity Inc.1, for the purposes of the acquisition.

TPG IV funds are Delaware, limited partnerships whose primary

activities are to make investments in a variety of operating companies

through acquisitions and corporate restructurings.

3. TPG III consists of a number of investment funds controlled by TPG

Partners III, L.P. TPG III was formed to make investments in a

variety of operating companies through acquisitions and corporate

restructurings.

4. T3 II consists of a number of investment funds controlled by T3

Partners II, L.P. T3 II was formed to make investments in a variety of

operating companies through acquisitions and corporate

restructurings.

5. Celerity Group, KCS and FTS (“the targets”) are wholly owned

subsidiaries of Kinetic Holdings LLC. The targets are active in the

design, manufacturing, outsourced manufacturing and production of

high-performance speciality capital equipment utilized in the

electronics, semiconductor and life sciences industries, with a focus on

high-performance gas and chemical delivery process modules that are

integral to the equipment used in manufacturing semiconductors.

1 Note this is an acquisition vehicle distinct from Celerity Group, Inc.