Decision Nº M/13/008 from Competition and Consumer Protection Commission, 2013-04-17

• Jurisdiction: Ireland
• Parties: Lloyds Development Capital,NRS Healthcare,PIMCO 2927 Limited
• Date: 17 April 2013
• Decision Date: 17 April 2013
• Status: Cleared (Phase 1)
• Court: Competition and Consumer Protection Commission (Ireland)
• Decision Number: M/13/008

MERGER ANNOUNCEMENT 17 APRIL 2013

Competition Authority clears proposed acquisition by

Lloyds Development Capital (Holdings) Limited through

PIMCO 2927 Limited of Nottingham Rehab Limited and

NRS Mobility Care Limited

The Competition Authority has today cleared the proposed transaction

whereby Lloyds Development Capital (Holdings) Limited, through PIMCO 2927

Limited, would acquire Nottingham Rehab Limited and its wholly owned

subsidiary NRS Mobility Care Limited. The proposed transaction was notified

under the Competition Act 2002 on 19 March 2013.

The Authority has formed the view that the proposed transaction does not

raise any competition concerns in the State. The companies have been

informed of the decision that the proposed transaction will not lead to a

substantial lessening of competition in any markets for goods or services in

the State and that the acquisition may be put into effect.

The Authority will publish a public version of the reasons for its determination

on its website (www.tca.ie) no later than 14 June 2013 after allowing the

parties the opportunity to request that confidential information be removed

from the published version.

Notes

Lloyds Development Capital (Holdings) Limited (LDC) is a private equity

specialist, focusing on management buyouts, institutional buyouts and

development capital transactions, operating predominantly across the United

Kingdom through a network of regional offices and with its head office in

London. LDC is a wholly owned subsidiary of Lloyds Banking Group plc and

invests across a broad range of sectors although it has particular experience

in construction and property, financial services, healthcare industrials, IT and

software, leisure and media, retail and consumer and support services.

PIMCO 2927 is a shelf company, whose shares are to be owned at completion

of the proposed transaction by LDC and four existing managers of NRS

Healthcare. The proposed transaction involves the acquisition by PIMCO of all

the shares and therefore sole control of NRS Healthcare.

NRS Healthcare is the trading name of Nottingham Rehab Limited, including

its wholly owned subsidiary NRS Mobility Care Limited. Nottingham Rehab

Limited is currently a wholly owned subsidiary company of Findel plc. NRS

Healthcare is a UK based provider of equipment, supplies and services to