Elan yachts bought by investment fund KJK
In a press release issued on Christmas Eve, the Slovenian Elan Group announced its acquisition by the Luxembourg investment fund KJK. The structure, with a portfolio of ?250 million, invests particularly in industrial companies. Active in the Balkan region, it specializes in plastic and metal companies. The Elan Group, Slovenia's largest company and Europe's leading ski manufacturer, whose nautical activities are just one facet of its business, fits into its investment profile. Founded in 1945, the company has become a specialist in the use of composite materials.
Perspective of continuity
The new owner has a profile comparable to Merril Lynch International and Wiltan Enterprises Ltd, who have owned the Elan Group since 2015. The sale is not expected to change the group's strategy, with the operational heads of the divisions, including the yachting division, logically remaining in place. " It's something we've been waiting for. There's no reason why it should change much for us, with the buyout by a fund of the same nature as the previous one. "confirms Philippe Chevallier, manager of Blue Touch, the French importer of Elan sailboats, as well as Italian brands Italia Yachts and Ita Catamarans.
Resumption of investments
The latest yachts in the range, the Elan GT5 and Elan E5, have met with great success. These boats, positioned in the high-end segment, are the brainchild of naval architect Rob Humphreys. The shipyard reports that it has almost completely filled its order book and its Slovenian factories for 2019.
In anticipation of the transaction, the Slovenian sailboat builder had slowed down its investments since the summer and the progress of negotiations. " There were some investments announced that we'd been waiting for, and which had been put on hold for a while since the summer. This should do us good. "explains Philippe Chevallier.
