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Thule Is Sold To Investment Group

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MAARSSEN, Netherlands (November 4) – Thule’s owner, Swedish private equity group EQT Partners AB, has sold Thule to the UK-based private equity firm Candover Partners Ltd. for approximately US$595 million. Four months after the initial announcement by the Thule board that it would prepare Thule for listing on the Swedish stock exchange, EQT decided instead […]

MAARSSEN, Netherlands (November 4) – Thule’s owner, Swedish private equity group EQT Partners AB, has sold Thule to the UK-based private equity firm Candover Partners Ltd. for approximately US$595 million. Four months after the initial announcement by the Thule board that it would prepare Thule for listing on the Swedish stock exchange, EQT decided instead to divest its shares through a secondary buy-out.
“We are really happy to have acquired Thule”, commented Candover director John Arney on the acquisition. “Thule is a fantastic company with a strong track record, leading market positions and a platform for future growth. We strongly believe in the opportunities of this business and we fully support the upcoming operational and strategic plan for the years 2005-2007,” he continues.
Thule AB develops, manufactures and markets rooftop boxes, roof rails, bike carriers, trailers and snow chains. It owns a group of strong brands, including Thule, Koenig, Thule Rental and Brenderup, which service the rapidly growing outdoor leisure market. It is the global #1 in its core activity of car racks and boxes with a 40% share of the market. Thule also holds either global or European market leading positions in all its other product areas. (MH)

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