Until now, the Elan Sports company in Begunje na Gorenjskem in the Slovenian hinterland was majority-owned by the state. More precisely: the Slovenian state holding company SDH. Now the Cypriot financial holding company Wiltan Enterprises, together with the investment bank Merill Lynch, has acquired 100 per cent of the entire Elan Group.
According to media reports, the purchase agreement was apparently signed in Cyprus at the end of last week. The parties have agreed not to disclose the price. This much is known: Wiltan Enterprises will hold a 95.1 per cent stake, with 4.9 per cent going to Merrill Lynch.
The sale will not result in any significant changes to the production of sailing yachts under the Elan Yachts and Impression Yachts brands. Production in Begunje will continue unabated. CEO Sean Langdon told YACHT online: "We are looking forward to a promising future based on a solid and healthy financial foundation."
Elan Sports was founded in 1945 and has established itself as one of the leading manufacturers of skis and snowboards to this day. Elan has been building boats since the early 1950s, initially kayaks and small motorboats, then mainly sailing dinghies and later sailing yachts. The shipyard currently has two production lines. Under the brand name Elan Yachts the company manufactures a range of performance-orientated performance cruisers between 21 and 45 feet. Under the brand Impression Yachts offers a four-stage line of cosy tour boats between 35 and 50 feet in length.
Michael Good
Editor Test & Technology
