Flexim Security: Sale to Assa Abloy
Oehlandt & Co advised Panostaja on the sale of Flexim Security to ASSA ABLOY.
The global leader in locking solutions, ASSA ABLOY, has acquired Flexim Security, a Finnish provider of security technology, software and related services. Oehlandt & Co acted as sole financial advisor to Panostaja and the other Sellers. The debt-free purchase price is EUR 27 million plus an earn-out of EUR 8 million. Revenue of Flexim Security in FY2014 amounted to EUR 34 million and EBITDA to EUR 2.7 million. From the international buyer candidates, ASSA ABLOY with its global network and strong presence in Finland evolved as the best party for Flexim Security. The completion of the transaction is subject to approval by the competition authorities.