This is a pretty typical PE rollup, and it exploits a bug in US competition law called #AntitrustsTwilightZone:

https://pluralistic.net/2022/12/16/schumpeterian-terrorism/#deliberately-broken

When companies buy each other, they are subject to "#MergerScrutiny," a set of guidelines that the #FTC and #DoJAntitrustDivision use to determine whether the outcome is likely to be bad for competition.

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