Forstmann Little plans to invest in ENK International
27 Apr '06
3 min read
ENK International, the fashion industry's most exclusive tradeshow organization, and Forstmann Little & Co, a New York private investment firm, announced that Forstmann Little will make a substantial investment in ENK to provide capital to further accelerate ENK's impressive growth.
Elyse Kroll, founder and CEO of ENK International, will continue to be a major shareholder of the company and drive this expansion as its CEO.
ENK, founded in 1981 by Ms Kroll, provides the forum for the fashion world to conduct business. In 2005, ENK conducted 22 events, 16 of which were held in New York City, five in Los Angeles, and a debut show in Las Vegas.
"ENK has a very strong market position, an excellent management team and significant potential for growth, all characteristics we look for in our investments," said Theodore Forstmann, Forstmann Little Founding Partner.
"Elyse has created a powerful brand and developed a unique vehicle for exhibitors to generate significant sales. As with all of our investments, we intend to partner with management and help ENK grow its business in the years ahead," he added.
Forstmann Little already has a significant presence in the fashion industry through its ownership of IMG, the world's premier sports, entertainment and media company. IMG owns and produces Olympus Fashion Week in New York, as well as numerous other fashion events globally.
Elyse Kroll added, "Forstmann Little is the ideal partnerto help ENK accelerate its growth and realize its full potential, as they will provide tremendous support and expertise. These benefits will enable the talented ENK staff to continue its organic growth and to also now be in a position to take advantage of acquisition opportunities, as we have important plans to expand our company.”
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