20.2.2019

Lindblad as the expert in the AccessPoint acquisition

Acquisition of Secon Systems Oy shares completed methodically with Lindblad’s assistance. A due diligence inspection provided AccessPoint with the knowledge needed to support their purchase decision.

Legal assistance in various stages of the purchase process

Founded in 2013, AccessPoint is a company offering property security services in the form, for example, of access control services and security administrator services. AccessPoint recently acquired another security technology company Secon Systems Oy, and it was Lindblad & Co Attorneys Ltd that handled the legal aspects.

“AccessPoint had previously used Lindblad’s services and found them to be of high quality, and I had similar positive experiences of cooperation with them in other contexts,” says AccessPoint’s Board Chairman Ronnie Neva-aho, explaining why he chose to rely on Lindblad again.

Lindblad & Co Attorneys assisted AccessPoint with the purchase of Secon Systems Oy’s share stock and the due diligence that preceded it.

“The early negotiation stage took a long time and Lindblad entered the scene only when the decision had been made. We used their expertise for due diligence and the bill of sale negotiations. Markku Lindblad headed the due diligence team, both in terms of the legal and financial due diligence. He also helped us to draw up the bill of sale,” says Neva-aho.

Due diligence gave a picture of the condition of the acquired company

Due diligence means a preliminary inspection of the target of acquisition, in practice covering all aspects the buyer wants to analyse before going ahead with the acquisition. Due diligence provides both the buyer and seller with the certainty that all the necessary facts affecting the acquisition decision are known, and no surprises will emerge later.

“Due diligence enabled us to obtain the necessary level of information about the company’s management and legal status and sufficient understanding to move forward with the process. Due diligence increased our confidence in the company’s situation,” says Mr Neva-Aho, describing the benefits.

“In fact, it was the due diligence conducted by Lindblad that enabled the acquisition to go through – it might never have taken place without it,” says Neva-aho.

Continuation of a good customer relationship

Neva-aho describes Lindblad’s services as precise, reliable and understanding the customer’s needs.

“Their service was pragmatic and precise, both in terms of information content and timetables. They understood what we were after, and we got exactly the service we ordered.”

“The due diligence carried out by Lindblad was not just a report, they also explained things to us. They helped us gain a sufficient understanding of the seriousness of various observations they made. The due diligence not only resulted in observations, but we also received plenty of information about their impact and good consultation on how the issues should be managed.”

Neva-aho’s previous positive experiences of working with Lindblad were confirmed in this case.

“A recurring and established customer relationship is a sure sign that the service has been good. My experiences of Lindblad’s services relate to corporate legal issues and acquisitions, and these processes have always been smooth.”

“Acquisitions require flexibility, and sometimes the process needs to move forward without worrying about the hours worked. Days can be long when closing a deal and timetables are tight. Lindblad has always been flexible in these respects.”