Merger of Securitas hf. and Geymslna ehf.

The Competition Authority has been considering the acquisition of Geymslur ehf. by Geymslur 24 ehf., the latter of which is owned by Securitas. Geymslur's business involves the rental of specialised storage premises. Geymslur 24 is a newly established company that has established itself in the same market. This is a horizontal merger with minor concentration effects, as Geymslur is much larger in the market. In the view of the Competition Authority, there are low barriers to entry for the market, and there have been clear signs of new entrants in recent quarters. Despite the merger parties' considerable market share, the Authority considers that the merger will neither create a dominant position in the market, nor strengthen an existing one. Furthermore, competition in the market is not otherwise being significantly impaired. Following an investigation, the authority therefore concludes that there are no grounds for intervention in this matter.