The European Commission has approved, under the EU Merger Regulation, the acquisition of Xexec Limited (‘Xexec’) of the UK, by Castik Capital S.à r.l. (‘Castik’) of Luxembourg and Abry Partners II LLC (‘Abry’) of the US. Xexec is active in the employee engagement technology sector. Castik is an investment company and Abry is a private equity firm.
The transaction gives rise to horizontal overlaps between the activities of Xexec and portfolio companies of Castik and Abry (including RG Engagement Group Limited) in the markets for Enterprise Application Software, Enterprise Resource Planning, Human Capital Management and HR solutions for large corporations. The Commission found that the proposed acquisition would raise no competition concerns because of its limited impact on the markets concerned. The transaction was examined under the simplified merger review procedure.
- Date de publication
- 15 juillet 2021