PRINT THIS PAGE Candover buys sports utility business Thule from EQT for E465m26/10/2004. Source: AltAssets. 
 European buy-out group Candover has bought Thule AB, a manufacturer of car roof racks and other sports utility transportation devices, from Nordic buy-out firm EQT for E465m.
Thule is headquartered in Malmo, Sweden, and makes rooftop boxes, roof rails, bike carriers, trailers and snow chains. It employs around 2000 people and operates in Europe, North America and Asia.
John Arney, a director of Candover, said: '(Thule) holds global market-leading positions and has considerable opportunities for expansion; both crucial factors in the investment strategy of the Candover 2001 fund. We are backing a proven management team…with clear and ambitious plans for the next stage of the company's development.'
The deal is yet another secondary transaction, reinforcing the continuation of the long-running trend for private equity firms to buy and sell from one another.
Candover is expected to begin marketing a new pan-European in the first half of next year.
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