Elan Yachts is very pleased to announce that KJK Fund III, a EUR 250 million private equity fund launched in 2018, has completed the purchase of 100% of the shares of Elan d.o.o.

The KJK Group of companies manage several funds focusing on European Frontier markets where they combine local expertise with international best practices. The KJK team has extensive experience in these markets covering portfolio company selection, investment analysis and asset management. KJK’s network consists of 8 offices across Europe with 19 highly experienced investment professionals, each averaging more than 15 years’ experience. The local teams provide a unique platform to access highly-attractive investment opportunities across developing Europe. Their  local footprint enables KJK to provide global institutional investors access to opportunities into Frontier Europe which would otherwise be inaccessible.

Mr. Kustaa Äimä, the founder and senior partner at KJK, stated that “We are delighted to have closed the purchase of Elan after 9 months of work. We believe that Elan’s relentless focus on its customers makes its products highly relevant to consumers, thereby making Elan highly competitive on the world stage.” Mr. Äimä commented further that “Elan will play a central role in KJK’s efforts to build a sporting goods business focused on enabling friends and families to lead year-round active outdoor lifestyles”.

Elan’s management team, led by Mr. Jeffrey Tirman, Elan’s CEO, will continue managing the company. In addition, Mr. Tirman will assume the role of CEO of KJK’s newly created holding company, KJK Sports. Under KJK Sports, in addition to Elan, KJK will combine its other sports and outdoor related investments, including the Estonian-based watersports company, Tahe Outdoors, and Leader 96, the Bulgarian-based bicycle manufacturer. Mr. Tirman commented “We are pleased to have successfully concluded the sale of Elan to KJK and look forward to the opportunity of working with the entire KJK team and the management teams of the other KJK Sports portfolio companies. We believe that significant synergies exist across the portfolio of sport holdings which will enable KJK Sports to become a truly global, all-season active outdoors sporting goods company”.