EC Merger M.12272 EFMS / DESOTEC Decision

EC State Aid Cases

Filed March 17th, 2026

Detected March 18th, 2026

Summary

The European Commission has approved the merger between EFMS and Desotec under case M.12272. The decision, dated March 17, 2026, found no grounds for opposition to the concentration.

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What changed

The European Commission, through DG Competition, has issued a final decision (Case M.12272) approving the acquisition of sole control over Desotec by EQT Fund Management S.à r.l. (EFMS). The decision, dated March 17, 2026, was made under Article 6(1)(b) of the Merger Regulation and Article 57 of the EEA Agreement, following a notification received on February 23, 2026. The Commission concluded that the notified operation does not raise competition concerns and is compatible with the internal market.

This decision signifies the clearance of the merger. Regulated entities, particularly those involved in investment management and industrial purification solutions, should note the successful completion of this merger. No specific compliance actions or deadlines are imposed on external parties by this decision, as it pertains to the regulatory approval of a specific transaction.

Source document (simplified)

EUROPEAN COMMISSION DG Competition Case M.12272 - EFMS / DESOTEC Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 17/03/2026 In electronic form on the EUR-Lex website under document number 32026M12272

EUROPEAN COMMISSION Brussels, 17.3.2026 C(2026) 1927 final PUBLIC VERSION EQT Fund Management S.à r.l. 51A, Boulevard Royal 2449 Luxembourg Luxembourg Subject: Case M.12272 - EFMS / DESOTEC Commission decision pursuant to Article 6(1)(b) of Council Regulation (EC) No 139/2004 () and Article 57 of the Agreement on the European Economic Area () Dear Sir or Madam, (1) On 23 February 2026, the European Commission received notification of a proposed concentration pursuant to Article 4 of the Merger Regulation, by which EQT Fund Management S.à r.l. (“EFMS”) (Luxembourg) controlled by EQT A.B (Sweden), will acquire within the meaning of Article 3(1)(b) of the Merger Regulation sole control over the whole of the undertaking David Topco S.à r.l. (“Desotec”) (Luxembourg), by way of purchase of shares. ( ) (2) The business activities of the undertakings concerned are the following: – EFMS is the alternative investment fund manager of EQT Future, a private investment fund forming part of the EQT group of investment funds. EFMS is solely owned by EQT AB. EQT portfolio companies are active in a variety of industries and across various geographies, – Desotec is primarily a provider of industrial purification solutions based on activated carbon technology. Desotec is headquartered in Belgium. Desotec offers filtration solutions and related services used to purify air, gas, water and liquids. Desotec’s filtration solutions can be tailored, scaled and replenished to meet the needs of clients across various industries. (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 () OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’). With effect from 1 December 2009, the Treaty 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’). () OJ C, C/2026/1293, 2.3.2026.

paragraph 5(d) of the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004. () (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 () OJ C 160, 5.5.2023, p. 1 (the ‘Notice on a simplified treatment’).