Thule Group AB is a Swedish company that owns brands related to outdoor and transportation products. These include cargo carriers for automobiles and other outdoor and storage products, with 4,700 points of sale in 136 countries worldwide.
History
Thule was founded in 1942 in Hillerstorp, southern Sweden. The company grew steadily, especially in the 1960s when Thule specialized in roof racks and other automobile accessories, helping car owners bring their outdoor equipment and luggage. In 1979, Eldon, a company listed on the Stockholm Stock Exchange, purchased Thule and continued to develop the company. In 1999, the private equity firm EQT Corporation acquired and delisted Eldon. In 2004, EQT sold Thule to the UK-based private equity firm Candover, which embarked on several mergers and acquisitions, growing the turnover more than three times and adding new product lines such as towbars, car trailers, snow chains, RV products and bags for electronic devices.
In May 2007, Nordic Capital acquired Thule but restructured in December 2008 due to the 2008 financial crisis, resulting in the lending bank consortium receiving an equity stake in the company. Nordic Capital acquired the remainder of the company in December 2010 and listed Thule on the Stockholm Stock Exchange in November 2014 through an IPO.[1]