EQT II bought the Swedish Thule Group, a world leading manufacturer of car equipment such as rooftop boxes, snow chains and trailers, in 1999.
While under EQT’s ownership Thule underwent an extensive development programme, building three factories in Poland, establishing exports to new markets, broadening the product offer and making two supplementary acquisitions, the snow chain manufacturer König S.p.A and the trailer manufacturer C&C Distributors Inc.
In October 2004, Thule was sold to the private equity firm Candover.
Key events during EQT's ownership
- Separation of Thule from enclosure business (Eldon)
- Heavy investments in production facilities in Poland
- Divestments of non-core businesses
- Acquisitions of König (snow chains) and C&C Distributors (trailers)
- New product platform for trailers