Sweden’s Financial Supervisory Authority, Finansinspektionen, announced that it has approved of the merger of Swedish staffing firms Uniflex and Poolia.

The two staffing firms announced in June that they will merge to create a Nordic staffing “powerhouse”. The boards from each firm unanimously decided on the merger and plan to have each share in Uniflex replaced with 1.7 new shares in Poolia. The merger is expected to be completed in October 2018. Until then both companies will continue to operate as two independent firms.

Later this month, Poolia will hold an Extra General Meeting where it will discuss the decision on the approval of the merger plan.

Uniflex was founded in 2002 as a subsidiary of the Poolia Group and in 2004 it became an independent company.

After the merger completes, the new group will continue with the Poolia AB name and trading will only take place with the class B shares in Poolia, however both Poolia and Uniflex will continue to operate under separate brands and retain their respective strategies and goals.

Jan Bengtsson, CEO of Uniflex, is set to become the President and CEO of the newly merged company. Poolia CEO Morten Werner will be stepping down from the company.