The Swedish group said Combisafe and its existing UK fall protection operation have been working as a single organisation since 1 September, sharing sales, order management, product development, administration and other functions.
HAKI said the merger has cut the total workforce by half. It has not disclosed the number of roles affected or the resulting headcount.
Four depots and yards to close
The integration will also reshape the combined business’s warehousing network. Four depots and yards are being closed and operations consolidated into three existing depots, with the work expected to be completed by the end of 2026.
HAKI has not identified which locations will close. Combisafe’s current UK contact details list its operation at Grange Park in Northampton, while HAKI’s UK fall protection business includes the former Vertemax operation in Aylesham, Kent.
The restructuring and integration programme is expected to cost around SEK 26m. HAKI said most of that cost will hit earnings in the third and fourth quarters of 2026, although part will be covered by money contributed by the seller for change-related costs.
The group also expects Combisafe to weigh on earnings until the changes take effect. Its target is for the combined Combisafe and UK fall protection operation to achieve a profit margin above the HAKI Safety group average once the integration is complete.
Acquisition completed in July
HAKI agreed to acquire selected Combisafe operations from PIP Global Safety in June and completed the deal on 7 July.
At completion, Combisafe employed just over 30 people across six countries, generated annual sales of about SEK 80m and sold into around 20 countries. HAKI said at the time that the business had been unprofitable for several years.
The transaction was structured as an asset deal covering the Combisafe brand, product portfolio, patent and design rights, customer relationships and certain operating assets. HAKI paid USD 2m for the net assets, while seller PIP Global Safety agreed to contribute about USD 2m towards potential change-related costs.
When the deal was announced in June, HAKI Safety president and CEO Sverker Lindberg said the group intended to begin extracting sales and product synergies immediately after completion and pursue a fast integration of the business.
Combisafe was founded in Sweden in 1987 and is best known for temporary edge protection and catchfan systems. HAKI said the acquisition gave the group access to nine European markets that were previously outside its fall protection operation, as well as a wider product range.
