Local Investors Form Demano Group Through Strategic Acquisitions
With a resolute belief in the potential of the defense industry, local investors have taken a significant step by acquiring two industrial firms from Jan Sigurd Otterlei, establishing the newly formed Demano Group.
At the helm of this initiative is Jostein Devold, the newly appointed CEO of Demano Group. The company’s recent acquisitions include both Mandal Maskinering and KSMV in Kristiansand, adding to its robust portfolio of capabilities. Sales Director Morten Kostøl also joins the effort, positioning the group to navigate a challenging market landscape.
This move comes in the wake of economic pressures faced by Otterlei Group, underscoring a strategic shift aimed at revitalizing and expanding local industrial potential. As Demano Group embarks on this new venture, it signifies a strong commitment to bolstering the region’s defense sector and creating new opportunities for growth.
With a firm foundation and clear focus, Demano Group is poised to make a noteworthy impact in the industrial landscape of Southern Norway.
