Brussels, 6 September 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of Foxway Group AB (‘Foxway’) of Sweden by Nordic Capital Fund XI (‘Nordic Capital’) of the Netherlands and the UK.
The transaction relates primarily to the IT sector. Foxway is a provider of IT services, such as circular IT- and re-commerce solutions to public and private customers, mainly in Europe. Nordic Capital, an affiliate of Nordic Capital of Sweden, is a private equity investor focusing primarily on the Nordic region and selected Northern European countries.
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.11161.
Source – EU Commission