CAPVEST/TSG Merger Declared Compatible with Internal Market

Case M.12380 - CAPVEST / TSG

Only the English text is available and authentic. REGULATION (EC) No 139/2004

MERGER PROCEDURE

Article 6(1)(b)

Date: 31/03/2026

In electronic form on the EUR-Lex website under document number 32026M12380

EUROPEAN COMMISSION

DG Competition

Brussels, 31.3.2026 C(2026) 2317 final

PUBLIC VERSION

CapVest Partners LLP 4th Floor, 100 Pall Mall, London SW1Y 5NQ United Kingdom

Subject: Case M.12380 - CAPVEST / TSG Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 ( ) and Article 57 of the Agreement on the European 1 Economic Area ( ) 2

Dear Sir or Madam, (1) On 6 March 2026, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation by which CapVest Partners LLP ('CapVest', United Kingdom) will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control of the whole of TSG

Solutions Group SAS ('TSG', France), currently controlled by HLD Europe SCA.

The concentration is accomplished by way of purchase of shares. ( ) 3 (2) The business activities of the undertakings concerned are the following:

• CapVest is a mid-market private equity firm focused on highly resilient

industries,

• TSG designs, installs and maintains energy infrastructure and equipment for

mobility, serving both public and private service stations, mobility hubs, and corporate and public fleets. (3) After examination of the notification, the European Commission has concluded that the notified operation falls within the scope of the Merger Regulation and of paragraph 5(c) of the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004. ( ) 4

() OJ L 24, 29.1.2004, p. 1 (the 'Merger Regulation'). With effect from 1 December 2009, the Treaty 1

on the Functioning of the European Union ('TFEU') has introduced certain changes, such as the replacement of 'Community' by 'Union' and 'common market' by 'internal market'. The

terminology of the TFEU will be used throughout this decision. () OJ L 1, 3.1.1994, p. 3 (the 'EEA Agreement'). 2 () OJ C, C/2026/1795, 17.3.2026. 3 () OJ C 160, 5.5.2023, p. 1 (the 'Notice on a simplified treatment'). 4

EUROPEAN COMMISSION

(4) For the reasons set out in the Notice on a simplified treatment, the European Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is adopted in application of Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement.

For the Commission

(Signed)

Linsey MCCALLUM

Director-General (acting) Directorate-General for Competition