Finnish Competition and Consumer Authority has conditionally approved Loihde Plc acquiring BLC Turva Oy

27.5.2026 13:00:02 EEST | Loihde Oyj | Other information disclosed according to the rules of the Exchange

Finnish Competition and Consumer Authority (FCCA) has conditionally approved the acquisition by which Loihde Plc acquires the entire share capital of BLC Turva Oy. The condition for approving the transaction is that prior to the completion of the transaction, Loihde will divest its local locking business in the regions of South Karelia and South Savo, and BLC Turva Oy will divest its local locking business in the region of Central Finland. The FCCA’s decision has no essential impact on the industrial logic behind the acquisition or the cost synergy target of over EUR 3 million.

Loihde announced on 5 November 2025 that Loihde and the cooperative Savonlinnan BLC-osuuskunta had signed an agreement on Loihde acquiring the entire share capital of BLC Turva Oy. As both Loihde and BLC Turva are among Finland's largest suppliers of security solutions, the transaction is subject to the approval of the Finnish Competition and Consumer Authority.

FCCA’s decision

The FCCA has today on 27 May 2026 approved the transaction conditionally. According to the FCCA, the combined market share of Loihde and BLC Turva in local locking systems market in the regions of South Carelia, South Savo and Central Finland is so high that the transaction would essentially reduce competition in these areas. Therefore, the FCCA requires that Loihde divests its local locking business in Jyväskylä and its local locking and security technology business in Mikkeli, and BLC Turva divests its locking business in Jyväskylä. Prior to the completion of the divestments, the FCCA must approve the purchasers of business operations. Loihde and BLC Turva have committed to the conditions presented in the FCCA’s decision.

In other market regions or in nationwide locking and security technology business, the FCCA did not identify any competition concerns caused by the transaction and did not impose any related conditions on the completion of the transaction.

The combined revenue of the businesses to be divested is less than EUR 10 million. Loihde’s and BLC Turva’s combined IFRS revenue for 2025 is approximately EUR 219 million.

“The business operations that must be divested make up a relatively small part of the entity following the transaction. The FCCA’s conditions apply only to three regions and mostly to locking business, which is only one part of Loihde’s comprehensive security offering which also includes security technology solutions, cybersecurity and corporate networks. The impact of the FCCA’s decision on the industrial logic or the estimated cost synergies generated by the transaction is insignificant”, says Samu Konttinen, CEO of Loihde.

Key points and most significant benefits of the BLC Turva acquisition

Following the acquisition of BLC Turva, Loihde will become the Finnish market leader in electronic security technology, structural security, fire safety and voice evacuation solutions. The transaction opens opportunities for expanding Loihde’s extensive portfolio to BLC Turva’s customer base, including cyber security and network services.

Despite the conditions the FCCA presents, Loihde is still confident that the transaction will generate annual cost synergies of more than EUR 3 million after the integration is complete. Loihde also expects its earnings per share to improve significantly. The transaction is also expected to provide significant synergy benefits for more efficient management of inventories on a larger scale and with a centralised operating model.

The integration project will begin on the latter half of 2026, after the divestments required by the FCCA. The cost savings and other benefits of the transaction will be realized in stages. The integration project is estimated to be completed by the end of 2028.

The companies’ combined IFRS adjusted EBITDA for 2025 is approximately EUR 16 million and after the estimated cost synergies will be realized, the pro forma adjusted EBITDA would grow to more than EUR 19 million.

The completion date of the transaction between Loihde and BLC Turva is open, as it can be completed only after the business transactions the FCCA requires have been signed. Loihde will disclose the completion of the transaction and will then update its financial guidance for 2026.  

The debt-free purchase price of the transaction is EUR 28 million, of which approximately EUR 7.5 million will be paid as new shares in Loihde and approximately EUR 20.5 million in cash. The final purchase price will be subject to customary adjustments for net working capital at the time of completion. 

Key figures of the companies

Further information:

Samu Konttinen, CEO of Loihde Plc
Interview requests: Director of Communications Tiina Nieminen, tel. +358 44 411 3480, tiina.nieminen@loihde.com

Approved advisor: Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098

Loihde enables business continuity. We help our customers gain a sustainable competitive edge through data, AI and digitalisation, harness the potential of the cloud and protect themselves against both physical and cyber threats. The combining of these skills is what makes Loihde a unique and comprehensive partner. We are approximately 780 skilled professionals, and our revenue in 2025 amounted to EUR 144 million.

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