Decision Nº M/04/041 from Competition and Consumer Protection Commission, 2004-08-03

PartiesJP Morgan Partners,Safety-Kleen
Date03 August 2004
Decision NumberM/04/041
StatusPreliminary investigation (Phase 1)
CourtCompetition and Consumer Protection Commission (Ireland)
Decision Date03 August 2004
Determination of the Competition Authority
Determination No. M/04/041 of the Competition Authority, dated
Notification No. M/04/041 – The proposed acquisition by JP
Morgan Partners (BHCA) LP of Safety-Kleen Europe Limited
1. On 14 July 2004 the Competition Authority, in accordance with Section
18 (1) of the Competition Act, 2002 was notified, on a mandatory
basis, of a proposal whereby JP Morgan Partners (BHCA) LP
(“JPMP(BHCA)”) would acquire Safety-Kleen Europe Limited (“Safety-
The Parties
2. JPMP(BHCA) is a wholly owned subsidiary of JP Morgan Chase & Co.
(JP Morgan), a US-registered company that supplies a broad range of
financial services worldwide. JPMP(BHCA) is a venture capital and
private equity investment organisation, which invests in or acquires
businesses operating in a broad range of industries worldwide,
particularly life sciences, telecommunications, industrial, financial
services and media. JP Morgan carries on business in the State
through J.P. Morgan Bank (Ireland) plc and its subsidiaries, and also
through the supply of financial services by its businesses based
outside the State.
3. Safety-Kleen, headquartered in the UK, operates in countries across
Europe. Its main business is the servicing and maintenance of solvent
and aqueous-based metal parts washers, spray gun cleaners and
automotive brake cleaners, for automotive and general industrial
customers. Safety-Kleen also supplies a range of ancillary services.
Safety-Kleen operates in the State through a subsidiary company,
Safety-Kleen Ireland Limited.
4. JPMP(BHCA) seeks to acquire Safety-Kleen under its normal business
practice. There is no horizontal or vertical overlap in the State
between the services supplied by JP Morgan, or by any of its
subsidiaries or portfolio businesses, and the services supplied by
Safety-Kleen. The proposed acquisition would thus constitute a bare
transfer of Safety-Kleen’s industry share and there is nothing to
indicate that a change in concentration in any market for goods or
services in the State would occur.

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