The European Commission has cleared H.I.G. Europe Middle Market LBO Fund II’s takeover of German civil engineering services company Terras Gruppe GmbH under EU merger rules.
The acquisition gives the Luxembourg-based fund, H.I.G. EU MM LBO II, sole control of Terras, the Commission said in a release on Tuesday.
The deal was reviewed under the EU Merger Regulation — the framework used to assess whether large transactions could reduce competition in the European Union — and was approved after the Commission found no competition concerns.
Simplified review
The Commission said the companies are not active in the same markets, or in markets linked through a supply chain relationship, and the case was therefore examined under its simplified merger review procedure.
Further details are published in the Commission’s public case register under case number M.12538.
