Elvstrøm Sails Changes Hands

by Elvstrøm Sails on 26 Nov 2008 Danish sail maker Elvstrøm Sails has been sold to a group of private investors led by former CEO of the company Claus Olsen and triple Olympic medalist and America's Cup skipper, Jesper Bank.

The group has purchased the company from its previous owner Peter Jørgensen who acquired the company a year and a half ago.

Under the new management, Claus Olsen will assume the role of CEO and Bank has been appointed Commercial Director. Bank was a member of the Board of Directors of Elvstrom Sails from 1992-2001. Andrew Smith will also continue in his role as Technical Director responsible for overseeing design and production at the company's headquarters in Aabenraa, Denmark. Smith's role will ensure the continuous development of new and advanced design and production processes, including the company's own EMT plant (Elvstrøm Membrane Technology) situated close to the main loft.

'We are very excited to have acquired Elvstrøm Sails, a company which Claus and myself have personally been involved in for many years' commented Jesper Bank. 'Elvstrøm Sails is a historic brand with a very strong market position. We look forward to moving the company forward significantly in terms of design, technology and production capacity. We have a highly skilled team at Elvstrøm Sails.'

Elvstrøm Sails is currently the largest sail maker in Europe represented by over 50 dealerships worldwide. The company exclusively designs and manufactures all its sail products from its 5,700m2 production facility in Aabenraa, Denmark, the largest single sail production facility in Europe. Elvstrøm Sails is standard supplier to some of Europe's leading yacht manufacturers including Bavaria, Hallberg Rassy and other renowned boat yards. The company also produces custom cruising, racing and grand prix sails for larger yachts over 70ft including Oyster, Swan and Wally Yachts.

Outlining their plans for the future of the company, Bank is keen to focus on the growth areas of the company; 'As we now have the expertise and capacity to produce much larger sails in-house, we plan to have at least 25% of our turnover from sails produced for the over 70ft market and including super yachts. Yachts of these sizes require durable and reliable sails, and we have the latest in sail making technology to produce this level of product.'

For more information, visit www.elvstromsails.dk