On 30 October 2018, the Finnish Competition and Consumer Authority (FCCA) approved the acquisition by which PHM Group Oy, indirectly owned by Intera Fund III, part of the Intera Partners Oy’s group of companies, acquires the property maintenance services business of Porvoon Huoltomiehet Oy. The FCCA has concluded that the acquisition will not significantly impede effective competition on the Finnish market.
Intera Partners Oy is a Finnish growth-oriented private equity firm. Inter Partners Oy’s group of companies includes Intera Fund I Ky, Intera Fund II Ky, and Intera Fund III Ky. Intera Fund III Ky owns PHM Group Oy indirectly through PHM Holding Oy.
Porvoon Huoltomiehet Oy is a property maintenance services company that, together with its subsidiaries, provides services mainly for property maintenance, property cleaning, technical maintenance, renovation, excavation contract work, and winter maintenance.
The FCCA has concluded that the acquisition will not significantly impede effective competition on the Finnish market. The parties to the acquisition do not have overlapping operations, and thus there are no affected markets at all. Furthermore, the regulatory reviews conducted by the FCCA did not reveal any harmful effects related to the acquisition.
The FCCA’s decision includes business secrets of the parties involved. The decision will be published once the business secrets have been removed.
More information: Research Officer Jenna Huttu, tel. +358 (0)29 505 3576, email: firstname.lastname@example.org.
According to the Competition Act, the FCCA must be notified of the transaction if the combined turnover of the parties to the corporate transaction exceeds 350 million euros and the turnover from Finland of at least two of the parties exceeds a combined total of 20 million euros. The FCCA will approve a corporate transaction if it has none of the harmful impacts referred to in the Competition Act. The FCCA will intervene in corporate transactions if its investigations suggest that the acquisition substantially impedes effective competition on Finnish markets or a substantial part of the markets, particularly through the creation or reinforcement of a dominant market position.
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