Brussels, 20 March 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Point Broadband Holdings, LLC (‘Point Broadband’), by Berkshire Partners LLC (‘Berkshire’) and GTCR, LLC, all of the US.
Point Broadband is a provider of fiber-to-the-premise high-speed data services to rural and underserved residential and business customers. Berkshire and GTCR are private equity firms, focused on investing in growth companies across a number of industries.
The Commission concluded that the proposed acquisition would raise no competition concerns, given that Point Broadband has no actual or foreseen activities in the European Economic Area. The 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.11066.
Source – EU Commission