Press Release from the Competition Council regarding the economic concentration project concerning the indirect exclusive takeover of the company “TI Fluid Systems plc.” by the company “ABC Technologies Inc.”

In accordance with Article 13 of Law 104-12 on freedom of prices and competition as amended and supplemented and Article 10 of Decree No. 2-14-652 issued for its implementation, the Competition Council makes available to the public the “operation summary” below, containing the 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 104-12 on freedom of prices and competition.

Names of the companies and groups concerned:

• The acquirer: “ABC Technologies Inc.”;
• The target “TI Fluid Systems plc.”.

Nature of the operation

• Exclusive control takeover.

Economic sectors concerned

• Supply of automotive components.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e. January 16, 2025

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of a concentration operation concerning the indirect exclusive takeover of all ordinary shares issued and to be issued by the company “TI Fluid Systems plc.” by the company “ABC Technologies Inc.” through an arrangement plan approved by a court under Part 26 of the UK Companies Act 2006.

“ABC Technologies Inc.,” headquartered in Toronto, Canada, is a manufacturer and supplier of custom lightweight plastics, components, and high-tech innovations for the automotive industry (with a particular focus on North America). “ABC Technologies” is controlled by investment funds managed by subsidiaries of “Apollo Global Management, Inc.” (with its subsidiaries, “Apollo”).

“Apollo” is a fast-growing global alternative asset manager headquartered in New York City, New York. Through its fully integrated investment platform, covering the full risk/reward spectrum of quality investment to private equity, “Apollo” provides innovative capital solutions to companies and invests across all parts of the capital structure.

“TI Fluid Systems,” headquartered in Oxford, United Kingdom, is a global manufacturer of thermal solutions and fluid systems for all current and developing vehicle architectures.

 

Done in Rabat on January 2, 2025