Krogerus represented Assa Abloy in obtaining unconditional merger clearance for its acquisition of Flexim Security
Krogerus advised Assa Abloy Ltd., a global provider of door opening solutions, in the merger control aspects of its acquisition of Flexim Security Ltd., a security systems provider and locksmith in Finland.
According to earlier decisions of the Finnish Competition and Consumer Authority (FCCA), Assa Abloy enjoys a significant market position at the manufacturing and wholesale level of different locking and other structural security products, whereas Flexim Security is active in electrical safety products (especially access control) and on the retail level.
The merger involved several potential horizontal, vertical and conglomerate aspects, but was cleared unconditionally in the desired timetable after the FCCA's investigations showed the merged entity would still face sufficient competition on the retail level.
Further, the concentration did not lead the merged entity to have the ability or incentives to foreclose competing manufacturers or distributors.
"The decision implies the case-by-case effects-based assessment by the FCCA," comments Krogerus partner Katri Joenpolvi.
"Thus, companies already in a strong, allegedly dominant position may still be approved swiftly under the SIEC test, where credible theories of harm do not arise," she adds.
Partner Katri Joenpolvi led the Krogerus team. Other team members included senior counsel Petteri Metsä-Tokila and associates Jarno Käkelä and Tuulia Tanskanen.