SMFLH / MRL merger inquiry

The Competition and Markets Authority (CMA) is investigating the completed acquisition by SMFL LCI Helicopters Limited (SMFLH) of Macquarie Rotorcraft Limited (MRL).

• From: Competition and Markets Authority
• Published: 15 May 2025
• Last updated: 9 September 2025 — See all updates

• Case type: Mergers
• Case state: Open
• Market sector: Transport
• Opened: 15 May 2025

Statutory timetable

Date	Action
TBC	Deadline for phase 1 decision
TBC	Launch of merger inquiry
TBC	Invitation to comment
15 May 2025	Initial enforcement order (*)

(*) The CMA has made an initial enforcement order. This case page will be updated when the CMA formally commences its phase 1 investigation.

Phase 1

Initial enforcement order

8 September 2025: The CMA has revoked and reissued the IEO imposed on 15 May 2025 in relation to the completed acquisition by SMFLH of MRL.

• Revocation order (PDF, 122KB) (9.9.25)

• Initial enforcement order (reissued) (PDF, 340KB) (9.9.25)

15 May 2025: The CMA has revoked and reissued the IEO imposed on 15 May 2025 in relation to the completed acquisition by SMFLH of MRL.

• Revocation order (PDF, 102KB) (22.5.25)
• Initial enforcement order (reissued) (PDF, 203KB) (22.5.25)

15 May 2025: The CMA has served an IEO under section 72(2) of the Enterprise Act 2002 on Sumitomo Mitsui Financial Group Inc. (SMFG), Sumitomo Corporation (SC), Sumitomo Mitsui Finance & Leasing Co. Limited (SMFL), SMFLH, and MRL.

• Initial enforcement order (PDF, 203KB) (22.5.25)

Amendments / consents granted

• Derogation 15 May 2025 (PDF, 126KB) (22.5.25)
• Derogation 12 June 2025 (PDF, 112KB) (19.6.25)
• Derogation 12 June 2025 (PDF, 135KB) (19.6.25)
• Derogation 31 July 2025 (PDF, 141KB) (12.8.25)

Contact

Please send written representations about any competition or public interest to smfl.macquarierotorcraft@cma.gov.uk

Privacy notice

Your name and contact details are your personal data. In collecting, receiving, storing, accessing and using your personal data, the CMA, as controller, is processing your personal data. The CMA processes personal data in accordance with data protection law. The CMA is processing your personal data so that it can contact you again, should it need further help or information from you, in order to carry out its merger work under Part 3 of the Enterprise Act 2002. For more information about how the CMA processes personal data and your rights relating to that data, please see our Privacy notice.

Published 15 May 2025

Last updated 9 September 2025 + show all updates

1. 9 September 2025

   Revocation order and reissued initial enforcement order published.

2. 19 June 2025

   2 derogation letters published

3. 22 May 2025

   Initial enforcement order revoked and reissued. Derogation consent published.

4. 15 May 2025

   First published.