Veridian Corporate consulted for Flåtnes Elektro-Mek AS, sold to Otterlei Group AS.

Otterlei Group has entered an agreement to take over the industrial company Flåtnes Elektro-Mek AS. Flåtnes Elektro-Mek is located at the Borgeskogen industrial park in the municipality of Sandefjord. Flåtnes Elektro-Mek AS was established in 1986 and delivered electromechanical products to a range of customers in the Norwegian industry. Otterlei Group plans to continue running the company on its current premises.

Lars Flåtnes owned Flåtnes Elektro-Mek AS up to this point, and he will continue to be active in the company for some time to come. At present, the company has 13 employees and a turnover of approx. NOK 33 million.

In connection with the sale, Flåtnes expresses satisfaction that Otterlei Group AS will be the one taking ownership and helping to develop the company further.

Otterlei Group is a privately owned investment firm from Arendal with industry and real estate activities. Among others, the group owns the industrial companies Adax, Norac, Norac Badekabiner, Bosvik, and Kristiansands Skruefabrikk & Mek Verksted.

Otterlei Group is also the majority owner of Arendals Bryggeri. Otterlei Group has about 1000 employees in Norway, Denmark, Lithuania, and China. In 2020, the group had a turnover of roughly NOK 1 billion.