Purchase of a 49.1% stake in Ísmar ehf by FREYJU venture capital fund Ltd.

The Competition Authority has been considering the acquisition by Freyja Framkvæmdasjóður slhf. of a 49.1% stake in Ísmar ehf. Freyja is a private equity fund managed by Kvika Bank hf. Ísmar is a limited liability company that specialises in equipment for all types of surveying, automation, ventilation systems, thermal imaging, telecommunications and laser technology. The company has established itself in the field of equipment for traffic safety and law enforcement.

Following an investigation and having regard to the evidence, the Competition Authority is of the opinion that the merger does not prevent effective competition and will not result in the creation of a dominant position. Furthermore, it will not otherwise significantly distort competition in the market. Therefore, there are no grounds to take action regarding the merger under Article 17(c) of the Competition Act No. 44/2005.