European Commission
Commission clears acquisition of Prometheus Group by Advent and Genstar
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Mekone Parent LLC and its subsidiaries, including Prometheus Group Holdings, LLC (‘Prometheus Group’) by Advent International, L.P. (‘Advent’) and Genstar Capital Partners LLC (‘Genstar’), all of the US.
The transaction relates primarily to the provision of enterprise resource planning software.
The Commission concluded that the notified transaction would not raise competition concerns, given that the companies are not active in the same or vertically related markets. The notified transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11603.
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