CMA gives Peninsular acquisition the green light

THE Competition and Markets Authority has given the all clear to  Manchester-based Peninsular Business Services’ acquisition of Croner Group.

The decision, said the CMA, follows a comprehensive review of the market place and the competitive landscape in which both companies operate.

Peninsular bought Leicester-based Croner, a specialist in HR, business safety consultancy and tax fee protection insurance  on December 10 2015.

The CMA decided to review the transaction and conducted a merger inquiry, with invitation to comment opened to any interested parties and a consultation process.

Following a detailed assessment, the CMA announced its decision to clear the completed acquisition.
 
Peter Done, managing director of Peninsula Business Services, said: “The CMA has conducted an in-depth and detailed assessment of the marketplace in which Peninsula and Croner operate, with which we have co-operated fully.

“We are delighted that the CMA has made the decision that this acquisition does not give rise to lessening of competition in our marketplace and will not refer the acquisition to any further investigation.”
 
He added: “We operate in a deeply competitive and commercial environment. We differentiate Peninsula by the quality of its staff, systems, advice and customer service. We look forward to developing the Croner brand alongside that of Peninsula, investing in and taking the company forward as part of our broader Group.”

Alan Price, group operations director, said: “We thoroughly welcome the CMA’s decision and are looking forward to developing Croner, a long established business, further.

“We will take the best of both operating models to create an enhanced offering for both companies, creating a leading proposition to both the SME and Corporate Sector across both brands.”