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

• Jurisdiction: Ireland
• Parties: JP Morgan Partners,Safety-Kleen
• Date: 03 August 2004
• Decision Number: M/04/041
• Status: Preliminary investigation (Phase 1)
• Court: Competition and Consumer Protection Commission (Ireland)
• Decision Date: 03 August 2004

Determination of the Competition Authority

Determination No. M/04/041 of the Competition Authority, dated

3 August 2004, under Section 21 of the Competition Act, 2002

Notification No. M/04/041 – The proposed acquisition by JP

Morgan Partners (BHCA) LP of Safety-Kleen Europe Limited

Introduction

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-

Kleen”).

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.

Analysis

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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