Prior notification of a concentration

(Case M.12320 – ARMIRA / TA ASSOCIATES / INTERSURGICAL)

Candidate case for simplified procedure

(Text with EEA relevance)

(C/2026/3444)

On 17 June 2026, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1).

This notification concerns the following undertakings:

—	Armira Opportunities III GmbH & Co. geschlossene Investment KG (together with all affiliated companies and funds ‘Armira’) (Germany),

—	TA Associates Management, L.P. (together with all affiliated companies and funds ‘TA Associates’) (United States),

—	Intersurgical Aktiengesellschaft AG (together with its group companies ‘Intersurgical’) (Liechtenstein).

Armira and TA Associates will acquire within the meaning of Article 3(1)(b) of the Merger Regulation joint control of the whole of Intersurgical.

The concentration is accomplished by way of purchase of shares.

The business activities of the undertakings concerned are the following:

—

Armira is a Germany-based alternative investment fund manager specialised in providing entrepreneurial capital for long-term partnerships. Armira focuses on family-owned businesses and technology companies in various industries primarily active in Germany, Austria and Switzerland, and broader European markets,

—	TA Associates is a US-based private equity firm operating worldwide and investing in companies in five target industries, namely technology, financial services, healthcare, consumer, and business services,

—

Intersurgical is a Liechtenstein-based company active worldwide in the design, manufacture and supply of medical devices for respiratory support, used in anaesthesia, intensive care, emergency care and oxygen therapy in hospitals and in the home. Intersurgical’s product portfolio is intended to be complemented by the acute care and interventional urology business lines of Teleflex Inc., which Intersurgical is in the process of acquiring.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved.

Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2), it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:

M.12320 – ARMIRA / TA ASSOCIATES / INTERSURGICAL

Observations can be sent to the Commission by email or by post. Please use the contact details below:

Email: COMP-MERGER-REGISTRY@ec.europa.eu

Postal address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

(1) OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2) OJ C 160, 5.5.2023, p. 1.