Copart / Hills Motors merger inquiry
| Decision Date | 10 August 2022 |
| Date | 10 August 2022 |
| Subject Matter | Mergers |
| Court | Competition and Markets Authority (EW) |
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Acquisition by Copart, Inc. of Green
Parts Specialist Holdings Ltd (Hills
Motors)
DECISION TO REFER
ME/7010/22
The CMA’s decision to refer under section 22 of the Enterprise Act 2022 given on 9
December 2022. Full text of the decision published on 9 December 2022.
Introduction
1. On 5 July 2022, Copart UK Limited, a wholly owned subsidiary of Copart, Inc.
(Copart), acquired the entire issued share capital of Green Parts Specialist
Holdings Ltd (formerly named ILT Project Limited) (Hills Motors) (the Merger).
Copart and Hills Motors are together referred to as the Parties and for statements
referring to the future, as the Merged Entity.
2. On 28 November 2022, the Competition and Markets Authority (CMA) decided
under section 22(1) of the Enterprise Act 2002 (the Act) that it is or may be the case
that the Merger constitutes a relevant merger situation that has resulted or may be
expected to result in a substantial lessening of competition (SLC) within a market or
markets in the United Kingdom (the SLC Decision).1
3. On 28 November 2022, the CMA gave notice pursuant to section 34ZA(1)(b) of the
Act to Copart of the SLC Decision. However, in order to allow Copart the opportunity
to offer undertakings to the CMA for the purposes of section 73(2) of the Act, the
CMA did not refer the Merger for a phase 2 investigation pursuant to section
22(3)(b) on the date of the SLC Decision. On 28 November 2022, the CMA
extended the statutory four-month period mentioned in section 24(1) of the Act by
notice pursuant to section 25(4) of the Act.
4. Pursuant to section 73A(1) of the Act, if a party wishes to offer undertakings for the
purposes of section 73(2) of the Act, it must do so before the end of the five working
1 See Copart / Hills Motors merger inquiry - GOV.UK (www.gov.uk)
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