KJK Management 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., one of the world's leading sporting goods companies. 
Elan, based in Begunje, Slovenia, was founded in 1945 and operates under four 
main divisions: i) Winter sporting equipment, where Elan is a world recognized 
innovator and leader, ii) advanced high-performance racing and leisure sailing 
yachts, iii) engineered solutions for large multi-purpose arenas and stadiums 
world-wide, and iv) highly-technical advanced composite components utilized in 
renewable energy.

Mr. Kustaa Aima, 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. Aima 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 
(www.taheoutdoors.com), and Leader 96 (www.leader96.com), 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."  

ABOUT KJK. The KJK Group of companies manage several funds focusing on European 
Frontier markets where we 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. Our local footprint enables KJK to 
provide global institutional investors access to opportunities into Frontier 
Europe which would otherwise be inaccessible. 

For more information about KJK, please visit www.kjkmanagement.com or email us 
at kjk@kjkcapital.com.  

For more information about Elan, please visit www.elan.si.

SOURCE: Elan and KJK