Embron Group acquires Lilaas AS

The company will continue under its own name, with the same management and at the same location. Øyvind Lilaas will remain with the company.

Lilaas was founded in 1961 by Jan A. Lilaas as Lilaas Finmekaniske, with the Norwegian Armed Forces as its first customer. Today, Lilaas develops and manufactures control levers and joysticks for manoeuvring vessels of all sizes, from small workboats to large ships. Within precision mechanics, the company supplies precision components to the defence industry and other industrial customers. Lilaas has 60 employees, all based in Horten, and reported revenue of NOK 113 million in 2025. Around half of revenue comes from customers outside Norway.

– Selling the company my family founded in 1961 and has run ever since is not a decision I have taken lightly. What mattered most to me was finding a solid, long term owner who knows the markets we operate in and who wants to develop Lilaas further in Horten. We have found that in Embron, says Øyvind Lilaas.

– The family and the employees have built the company step by step over many years, and today it holds a strong position with customers around the world, any of whom have been with Lilaas for decades. We respect what they have created, and taking on a company like this comes with a real sense of responsibility. At the same time, we are pleased that Øyvind and the management team are staying on. Together with the employees, we will now continue to build on what they have achieved, says Kjell Magne Leirgulen, CEO of Embron Group.

– We are very pleased to have a Norwegian, long-term owner. For our customers and employees, this means continuity and stability, while also opening up new opportunities. We have a highly skilled team, and with Embron's experience and expertise to draw on, we are in a strong position to take Lilaas even further, says Espen Hoff, CEO of Lilaas.

Embron Group is a Norwegian family-owned investment company with an industrial heritage since 1986. Embron invests in established, profitable companies with a strong market position and develops them further together with management through active ownership. The aim is to create lasting value that employees, customers and owners can be proud of.

Completion of the transaction is expected in the fourth quarter of 2026.

CONTACT
Kjell Magne Leirgulen, CEO, Embron Group: +47 977 23 121 | kml@embrongroup.com
Øyvind Lilaas, Lilaas AS: +47 901 08 658 | oyvind.lilaas@lilaas.no
Espen Hoff, CEO, Lilaas AS: +47 906 40 618 | espen.hoff@lilaas.no