Decision Nº M/04/008 from Competition and Consumer Protection Commission, 2004-03-03

PartiesMAF LIO,Hirschmann
Date03 March 2004
Decision Date03 March 2004
StatusPreliminary investigation (Phase 1)
CourtCompetition and Consumer Protection Commission (Ireland)
Decision NumberM/04/008
Determination of the Competition Authority
Determination No. M/04/008 of the Competition Authority, dated 3rd March
2004, under Section 21of the Competition Act, 2002
Notification No. M/04/008 - The acquisition by MAF LIO
Vermogensverwaltungsgesellschaft mbH & Co. KG of Hirschmann Electronics
GmbH & Co KG
1. On 5th February 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 MAF LIO Vermogensverwaltungsgesellschaft mbH & Co.
KG (“MAF LIO”), a subsidiary of HgCapital LLP (“HgCapital”), would acquire
Hirschmann Electronics GmbH & Co KG (“Hirschmann”) (“the proposed
The Parties
2. MAF LIO, a German-registered company and a subsidiary of HgCapital, was
formed for the specific purpose of acquiring Hirschmann. HgCapital is the parent
company of the HgCapital Group. The HgCapital Group’s principal activities are:
providing finance in the European private equity sector; buying out companies in
the technology, media, industrial, healthcare, consumer and business service
sectors; and providing expansion capital to companies in the technology, media
and healthcare sectors.
Hirschmann, owned by Rheinmetall AG, manufactures and supplies a diverse
range of electronics equipment, components and related accessories.
3. HgCapital has investment interests in four Irish companies, and in thirteen
foreign companies that make sales into Ireland. Two HgCapital controlled
companies sell automotive and electronic equipment in Ireland. FTE Automotive
GnbH sells clutch and brake products and rapid brake systems in the Irish
Automotive industry, and Raymarine Group Ltd sells a diverse range of
recreational marine electronics, intended for use by recreational fishermen and
The remaining companies are involved in a diverse range of business activities in
the following sectors: groceries, mushroom-growing, manufacture of glass
containers, distribution of wholesale books, music publication, IT electronic
payment systems, health care staffing services, property management, holiday
coach tours, alarms for elderly or infirm persons, paper packaging and printing,
and computer data storage and IT network technology.

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