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In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing information provided by the parties.
This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.
The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.
Names of the companies and groups concerned:
- The acquirer: The company “Industrial Physics Product Integrity Limited”;
- The target: The company “Torus Technology Group Limited”.
Nature of the operation
- Acquisition of exclusive control.
Economic sectors concerned
- Industrial measurement products and associated services.
Deadline for interested third parties to submit their observations
- 10 days from the date of publication of this press release, i.e., June 3, 2024.
NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES
The Competition Council has received notification of an economic concentration operation concerning the acquisition by the company “Industrial Physics Product Integrity Limited” of the exclusive control of the company “Torus Technology Group Limited”, through the acquisition of 100% of the share capital and related voting rights.
“Industrial Physics Product Integrity Limited” is a limited liability company under English law. It is part of the “Industrial Physics” Group, a global provider of testing equipment and services in sectors such as aerospace, automotive, construction and civil engineering, corrugated cardboard and paper packaging, pharmaceutical products and medical devices, adhesive films and flexible packaging, food and beverages, inks and coatings, metal packaging, industrial manufacturing, and plastics and polymers.
“Industrial Physics” is indirectly majority-owned by investment funds, vehicles, and/or accounts advised and managed by various subsidiaries of KKR & Co Inc., an international investment company that offers alternative asset management solutions as well as capital markets and insurance solutions.
“Torus Technology Group Limited” is a limited liability company under British law that offers measurement, automation, metrology, and manufacturing solutions through its direct subsidiaries, “Torus Measurement Systems Limited” and “Torus Automation Limited”, and its indirect subsidiaries, “Torus Americas, Inc.” and “Torus South America Limited”.
Done in Rabat, on May 23, 2024.
