Bank Takes Over Sailmaker

Triple America’s Cup Skipper Jesper Bank is part of a group of private investors that have bought Danish sail maker Elvstrøm Sails. Former CEO of the company Claus Olsen is also part of the consortium.

Olsen will become the CEO under the new structure and Bank has been appointed Commercial Director. Andrew Smith will 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.”

Outlining their plans for the future of the company, Bank is keen to focus on the growth areas; “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.”