Brussels, 14 November 2024
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of PKF O’Connor Davies Advisory, LLC (‘PKF’) of the US by Investcorp North American Private Equity Fund I GP, L.P. (‘Investcorp’) of the Cayman Islands, and by the Public Sector Pension Investment Board (‘PSP’) of Canada.
The transaction relates to accounting and advisory firm services, in particular, accounting, auditing, tax and business advisory services.
The Commission concluded that the notified transaction would not raise competition concerns, given PKF’s limited presence in the European Economic Area, and the fact 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.11739.