Thule

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.

In November 2024, Thule acquired Australian company Quad Lock for A$500 million.

Timeline

1962 – Introduction of Thule sport and cargo carriers

2004 – Acquisition of König (snow chains)

2005 – Acquisition of Omnistor (RV products), rebranded Thule 2009

2005 – Acquisition of Sportworks car rack product line

2007 – Acquisition of Case Logic (bags for electronic devices), premium line rebranded Thule 2010

Thule is the largest and most well-known of the brands that make up the group. The Thule product line includes everything from car roof boxes, bike racks, roof racks and strollers to laptop and camera bags, tablet and mobile phone cases, backpacks, luggage and rooftop tents.

The other brands that form the Thule Group brand portfolio are the US-founded cover and bag company Case Logic, SportRack Inc., the Canadian brand Chariot, the Dutch company Yepp and the Californian company Tepui.