Decision Nº M/10/004 from Competition and Consumer Protection Commission, 2010-02-09

• Jurisdiction: Ireland
• Parties: Warburg Pincus,SGL Limited
• Date: 09 February 2010
• Decision Date: 09 February 2010
• Decision Number: M/10/004
• Court: Commissioner for Environmental Information

Merger Notification No. M/10/004 – Warburg Pincus/SGL Limited

DETERMINATION OF MERGER NOTIFICATION M/10/004 -

WARBURG PINCUS/SGL LIMITED

Section 21 of the Competition Act 2002

Proposed acquisition by Warburg Pin cus of SGL Limited

Dated 09 February 2010

Introduction

1. On 29 January 2010, in accordance with section 18 of the Competition

Act 2002 (the “Act”), the Competition Authority (the “Authority”)

received a notification of a proposed transaction whereby Warburg

Pincus & Co. (“Warburg Pincus”) would acquire sole control of SGL

Limited (“SGL”).

The Undertakings Involved

The Acquirer

2. Warburg Pincus is a US based global private equity firm. Warburg

Pincus' inv estments are focused on a ra nge of sectors in North

America, Europe and Asia includ ing financial services, healthcare,

industrial, technology, media and telecommunications, energy,

consumer and retail and real estate. Warburg Pincus is not active in

the State and all turnover attributable to Warburg Pincus is turnover

accruing from its portfolio companies.

The Target Group

3. SGL is active in the design, man ufacture, distribution, r ental and

servicing of safety and survival equipment, including mar ine

equipment, aerospace equipment, submarine escape equipment and

air-beam shelter systems. SGL provides off-the-shelf survival p roducts

and systems, as well as developing bespoke saf ety and survival

solutions in terms of des ign, materials and inflation technology. SGL is

headquartered a nd located in Dunmurry, Nort hern Ireland and it

generates turnover in the State.

Rationale for the Proposed Transaction

4. According to the parties, the commercial objective of the proposed

transaction is to provide SGL with management and financial support

for the continued development of its business .

Third Party Submissions

5. No submissions were received.

Analysis