5.2.2024

AccessPoint assisted by Lindblad & Co in the subsidiary merger 

The integration of Secon Systems Oy, acquired by AccessPoint, into the parent company was a lengthy process, with Lindblad & Co reliably handling the required steps at various stages.

The objective was to merge the acquired company into the acquiring company

Lindblad & Co was already familiar to AccessPoint, a provider of property security solutions, for its previous services in business law and acquisitions. Most recently, Lindblad & Co assisted AccessPoint in the acquisition of Secon Systems Oy’s shares and the preceding due diligence. Immediately after the transaction, the collaboration continued, contemplating the next steps.

Preparations for the merger were made through various intermediate stages, including registering trade names for the acquiring company and addressing creditor procedures. Lindblad & Co systematically handled these and other necessary matters.

“Lindblad & Co made the necessary plans and drafted all the official documents required for the process – we simply approved them and signed our names,” describes Hannu Halonen, CEO of AccessPoint, the ease of collaboration.

On the last day of the year, the balance sheets of the companies were finally combined, and the merger legally came into effect.

Benefits of the subsidiary merger are evident on multiple levels

In the case of AccessPoint and Secon Systems, the merger involved a subsidiary merger, often aimed at streamlining the company’s structure within the group. For instance, administration becomes considerably simpler after the merger.

“We had acquired the entire share capital of Secon Systems, so, in practice, we had two companies. Given that the business areas were the same, it didn’t make sense for us to maintain two separate companies,” justifies Halonen the decision to merge.

“The merger also brought us practical benefits, such as being able to manage everything with a single production control system, making daily management easier,” adds Halonen.

Guided by legal experts, the process proceeded confidently and smoothly

AccessPoint was highly satisfied that the subsidiary merger and all its required measures were smoothly executed under the guidance of knowledgeable corporate law experts.

“While theoretically, we could have managed the tasks independently, we sought assurance in the process and made certain that the job was thoroughly completed on the first attempt,” remarks Halonen.

Lindblad & Co’s service met our expectations precisely, just as it did in our previous collaboration.

“They have handled matters independently, decisively, and accurately. What was agreed upon has been delivered. We have reached them whenever needed,” says Halonen.

“From our perspective, the best part of Lindblad & Co’s service is their expertise. They have strong experience in business law, and we can rely on their competence. I absolutely recommend them to other companies,” concludes Halonen.

Also read the previous reference: Lindblad & Co as the expert in the AccessPoint acquisition.